Ethereum Burns Almost $100 Million in Ether Tokens Since London Hardfork

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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An average of 3.24 ETH are withdrawn from circulation every minute.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.

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