Ethereum Burning $13,000 a Minute

Ethereum Burning $13,000 a Minute

The heat can literally be felt in the Ethereum network. (Image: cryptographer / Shutterstock)

After the successful launch of the London hard fork in the afternoon, the Ethereum network has already burned over two million US dollars worth of ETH. This is due to EIP-1559.

It is an early time of 2:33 pm. CEST London Upgrade on Ethereum Mainnet went live without any interference. An integral part of the London upgrade is the EIP-1559, a fee mechanism that completely replaced the previous system of gas charges. Instead of being paid to miners, a portion of the transaction fee, the so-called base fee, is burned in the transaction itself, that is, actually destroyed.

Ethereum network conflict

As of the time of this writing, these will be noisy Etherchain.org About 4.7 ETH, equivalent to about $13,000, is burned on Ethereum every minute. Within hours of launch, 955 ETH and thus over $2.6 million have been burned. basic fee is According to Etherscan Gastrocar About 95 Gwei on average, but also sees rashes are below 55 and above 120 Gwei.

Unsurprisingly: NFT Marketplace OpenC is a Leader

In the ranking of the most active ETH combustion engines NFT Marketplace OpenC With 101 ETH on and around $280,000 onwards. not surprising because NFT Featuring a group of different transactions as before website cryptoart.wtf was made clear.

DeFi-Apps ranks second Uniswap V2 With 93 ETH and around $258,000 token burn. Rank 3. traffic to der stablecoin tether With Uniswap V3 Status. Tether is currently leading with 56 ETH and a “calorific value” of around $155,000.

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So far, these processes have hardly affected 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.

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