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$420 million ETH had been burned this week
At the time of writing, this week's net issuance stands at -3,487 ETH, which is equivalent to -$15,119.39. Miner tips totaled $58 million this week, and the amount burned reached $420 million. The total number of Ether burned is 713,603 ETH, which is currently worth just over $3 billion. As the number of burned Ether keeps increasing, the coin will most likely have more negative weeks or even months as time goes on.A lot was going on in the Ethereum network this week, and while Opensea is number one on the overall ranking that shows us which protocols have burned the most Ether, Uniswap V2 takes the top spot this week. Uniswap was so popular this week because of the hype around dog coins and other meme coins. These coins are frequently traded on Uniswap, and traders were willing to pay hefty gas fees to find the next Shiba Inu. In total, more than 15 thousand ETH were burned with Uniswap V2. The second place goes to Ether transfers, which burned a total of 11 thousand ETH.
Ethereum 2.0 Altair Beacon update has successfully launched
The price of Ethereum has also performed well over the past seven days, reaching an all-time high of $4.445 last Friday. It is currently up 5.25% at $4,332.93, one reason being that it was announced that the Ethereum 2.0 Altair Beacon update has successfully launched. This update should pave the way for the transition from the Ethereum Mainnet to Proof of Stake. However, the increased activity in DeFi and NFTs in combination with the London Hard fork upgrade also plays an important role.Continue reading by joining Cryptonary Pro
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With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
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