2,685 ETH Worth $4M Was Just Burned
Portfolio Pulse from Benzinga Insights
A total of 2,685.28 Ether (ETH) worth $4,375,991 was burned from Ethereum transactions on Tuesday. This follows the implementation of the Ethereum improvement proposal EIP-1159, which changes the fee model and burns a base fee from each transaction, reducing the supply of Ether. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether was -0.64% yesterday.
September 20, 2023 | 6:00 pm
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The burning of Ether reduces its supply, potentially increasing its value. The Ethereum 2.0 upgrade is expected to decrease the issuance rate of new Ether, which could further increase its value.
The burning of Ether reduces its supply, which could increase its value if demand remains constant or increases. The upcoming Ethereum 2.0 upgrade is expected to decrease the issuance rate of new Ether, which could further increase its value if demand remains constant or increases.
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