The London hardfork, which was activated on the Ethereum network last week, has brought some new features to the protocol, including the EIP-1559, which involves burning part of the transaction fees.
Over the past week, the protocol has burned over 31,500 ETH or around $98.3 million.
An average of 3.24 ETH are withdrawn from circulation every minute. The top burners are:
- NFT-marketplace OpenSea: 3,971 ETH.
- DEX Uniswap V2: 2,373 ETH.
- Game Axie Infinity: 1,837 ETH.
As a result of the process, the price of Ethereum has increased above $3,100 for the first time since May.