4,468 ETH Worth $8M Was Just Burned
Portfolio Pulse from Benzinga Insights
A total of 4,468.12 Ether (ETH) worth $8,432,015 was burned from Ethereum transactions on Wednesday. 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.
June 22, 2023 | 6:00 pm
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4,468.12 Ether burned from transactions, following the EIP-1159 upgrade, which lowers the supply of Ether and may impact its value.
The EIP-1159 upgrade introduced a variable base fee that is burned, lowering the supply of Ether. As the supply decreases, the value of Ether may increase due to scarcity. This burning event could have a positive short-term impact on the value of ETHUSD.
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