Ethereum is burning $ 13,000 a minute
The heat in the Ethereum network can literally be felt. (Image: Cryptographer / Shutterstock)
After the successful start of the London hard fork in the early afternoon, the Ethereum network has already burned ETH for well over two million US dollars. This is due to EIP-1559.
In the early afternoon at 2:33 p.m. CEST, the London upgrade went live on the Ethereum mainnet without any disruptions. An integral part of the London upgrade is EIP-1559, a fee mechanism that completely replaces the previous system of gas fees. Instead of being paid to the miners, part of the transaction fee, the so-called base fee, is burned in the transaction itself, i.e. actually destroyed.
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Conflagration in the Ethereum network
At the time of this writing, they are noisy Etherchain.org Every minute about 4.7 ETH, the equivalent of almost $ 13,000, is burned on Ethereum. Within a few hours of the start, 955 ETH and thus more than 2.6 million dollars have been burned. The basic fee is according to the Etherscan gastracker on average around 95 Gwei, but also sees rashes down to 55 and upwards over 120 Gwei.
Unsurprisingly: The NFT marketplace Opensea is a leader
In the ranking of the most active ETH burners, the NFT marketplace Opensea is way ahead with 101 ETH and around 280,000 dollars. This is not surprising, because NFT are characterized by a conglomerate of various transactions, as the website Cryptoart.wtf had already made clear.
The Defi-App Uniswap V2 follows in second place with 93 ETH and around 258,000 dollars token burn. The stablecoin Tether with Uniswap V3 swings out at rank 3. Tether is currently just ahead with 56 ETH and a “calorific value” of around 155,000 dollars.
So far, these processes have hardly impressed the course of the ether. It is still below $ 2,800 and only shows a slight plus of 2.3 percent over the past 24 hours.
