Cryptocurrency Q&A
How much ETH is burned per year?
How much ETH is burned per year?
Luca
Fri Dec 13 2024
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5 answers
796
I'm curious about the amount of Ethereum (ETH) that gets burned or destroyed annually. I'd like to know the estimated quantity of ETH that is removed from circulation each year due to various reasons like transaction fees, smart contract executions, or any other mechanisms that lead to the destruction of ETH.
5 answers
SamuraiWarriorSoul
Sat Dec 14 2024
In the first quarter of 2024, a total of 333,555 ETH were burned. The drop in the second quarter, at -67.7% from Q1, indicates a significant change in the burning rate.
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SamuraiHonor
Sat Dec 14 2024
By August 5, 2024, the Ethereum network had witnessed a significant event.
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CharmedEcho
Sat Dec 14 2024
A total of 465,657 ETH had been burned since the beginning of the year. This figure represents a substantial portion of the Ethereum supply being permanently removed from circulation.
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Luca
Sat Dec 14 2024
The implementation of EIP-1559 in June 2021 marked a turning point for Ethereum. Since then, a staggering 4.36 million ETH have been burned, contributing to the network's deflationary nature.
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KpopStarletShineBrightnessStarlight
Sat Dec 14 2024
Looking specifically at the second quarter of 2024, the number of ETH burned was 107,725. This represents a notable decrease compared to the previous quarter.
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