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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cryptox in one link.Top Stories This WeekAxie Infinity virtual land slot sells out
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Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.ETH is burning at a rapid rate! Read on to discover the statistics behind Ethereum’s pursuit of deflationary mechanics. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over
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The Ethereum network has been burning ETH since the EIP-1559 first went into effect in early August. Since then, a portion of fees has been continuously burned, taking a large portion of the digital asset out of circulation. This hard fork had been implemented to combat the inflationary nature of
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In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether (ETH) (worth $4.24 billion) had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit
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111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) that changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Since then 1 million ether has been burned or the equivalent of around $3.8 billion worth of
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87 days ago, the Ethereum network successfully implemented the London hard fork upgrade, and ever since then over 700,000 ether has been burned, or more than $2.4 billion using today’s exchange rates. 702,886 Ethereum Burned Since the London Hard Fork Data from Dune Analytics indicates that on October 31, 2021, otherwise known
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Approximately 25 days ago, the Ethereum blockchain implemented the London hard fork and a number of features were added to the ruleset. One of the most anticipated changes was EIP-1559 which makes the crypto asset ether deflationary by burning a fraction of coins. Since August 5, over $432 million worth
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Besides the token burn, Gate.io has undertaken the initiative to buy back GT tokens from the secondary market.In a bid to raise the value of the GateToken coin, the Gate.io platform burned GT tokens worth $40 million in the first quarter. By reducing the coins in circulating supply and developing
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Just hours after Ethereum rocketed higher, so too has Bitcoin.The leading cryptocurrency recently reached $9,750, the highest price BTC has traded at in over a week. $9,750 is just over 13% higher than last week’s lows of $8,600, established as miners were seemingly dumping their coins in response to the
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Tether (USDT) cites the popularity of its Ethereum (ETH)-based asset as the reason why the company has never burned a single token.The recent report from Flipside Crypto concluded that Tether is not in the practice of burning its Ethereum tokens:“We can also see that no tokens ever go to the
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