7,221 ETH Worth $13M Was Just Burned
Portfolio Pulse from Benzinga Insights
A total of 7,221.44 Ether (ETH) worth $13M was burned from Ethereum transactions on Sunday. This follows the implementation of the EIP-1159 upgrade on August 5th, which changed the fee model and introduced a variable base fee that is burned, lowering the supply of Ether.
May 22, 2023 | 6:00 pm
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7,221.44 Ether burned on Sunday, following the EIP-1159 upgrade that introduced a variable base fee, lowering the supply of Ether and potentially impacting its value.
The EIP-1159 upgrade introduced a variable base fee that is burned, lowering the supply of Ether. This reduction in supply could lead to an increase in demand and potentially impact the value of Ether in the short term.
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