Ethereum Has Destroyed $8.10 Billion in Ether, ETH Scarcity to Increase After...
According to current metrics, the Ethereum blockchain has burned 2.35 million ether since the implementation of Ethereum Improvement Proposal (EIP) 1559. The $8.10 billion in value was burned over the course of nine months and during the last seven days, 18,110 ether worth $34.9 million was destroyed. 2.35 Million Ethereum Burned — Ethereum Dev Says The Merge Could Happen in August Approximately 288 days ago, Ethereum developers implemented EIP 1559, a ruleset upgrade that basically changed the algorithm tied to the base fee per gas in the protocol and the network now burns the base....
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This week, the Ethereum network’s burn rate reached a milestone by surpassing 2 million ethereum burned worth $5.81 billion since August 5, 2021. Metrics show the crypto network has a 24-hour burn rate of 1.74 ether per minute, which equates to roughly $5K worth of ether destroyed every 60 seconds. 2 Million Ethereum Burned, More Than $5K in Ether Destroyed Every Minute During the last year, the Ethereum (ETH) network has seen a slew of changes and seven months ago the network implemented the Ethereum Improvement Proposal (EIP) 1559 on August 5, 2021. Ever since then, the network....
Approximately 205 days ago, the Ethereum network upgraded via the London hard fork which implemented the packaged Ethereum Improvement Proposal (EIP) 1559. Since then, the EIP-1559 upgrade made it so a fraction of gas is destroyed during the transaction process and to date, 1,915,220 ether has been burned worth over $6.9 billion using today’s exchange rates. Ethereum Burn Rate Inches Closer to 2 Million Burned, 3.57 Ether Is Burned Every Minute The Ethereum (ETH) network has burned approximately 1,915,220 ethereum and the metric is nearing the two million mark. Since the EIP-1559....
Hedge fund management firm One River Asset Management has invested $600 million in bitcoin and ether with a plan to increase its holdings to $1 billion next year. The company has two cryptocurrency funds: the Bitcoin Fund and the Ethereum Fund. $1 Billion Investment in Bitcoin and Ether One River Asset Management has bought more than $600 million in bitcoin and ether, Bloomberg reported Wednesday. The company has two cryptocurrency funds: the Bitcoin Fund and the Ethereum Fund. Founded by CEO Eric Peters in 2013, One River oversees about $1.6 billion in total assets under management.....
The Ethereum 2.0 contract now has more than 7.4 million ether worth over $29.3 billion using today’s ether exchange rates. According to statistics, the smart contract address is the largest holder of ethereum out of all the wallets in existence.
Ethereum 2.0 Contract Nears $30 Billion
In the early days, the Ethereum (ETH) protocol was a 100% proof-of-work (PoW) blockchain but in more recent times, Ethereum is now a mix of proof-of-stake (PoS) and PoW. In time, the digital currency and smart contract network will be 100% PoS and this will be the main consensus algorithm....
The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....