According to TokenView data, the total amount of Ethereum produced in the past 24 hours was 15109.34 ETH, while the number of burned coins was 16,710.2 ETH. This means that the Ethereum supply has decreased by 1600 ETH.
During this period, Uniswap v.2 and Tether burned 2729.22 ETH and 1248.72 ETH, respectively, and Shibainu also burned 770.12 ETH, appearing as the third largest Ethereum destroyer.
Coin incineration is the process of removing circulating coins, and CoinDesk explains that it corresponds to a treasury stock buyback in the stock market.
As part of the fee paid to miners was burned due to the execution of Ethereum Improvement Proposal (EIP) 1559 on August 5, a total of 669,339 ETH has been lost so far. This is more than 50% of the newly issued coins during this period.
In the cryptocurrency market, expectations for further upside of Ethereum are high. CoinDesk, citing Laevitas data, said that demand for an Ethereum $15,000 call option, which expires in March next year, has been strong in recent days.
Ethereum pointed to $4417.14 on CoinMarketCap at 2:08 pm New York time on the 29th, up 4.66% from 24 hours ago. Ethereum advanced to $4455.74 during the day, recording an all-time high.
*Image: Ethereum price and trading volume in the last 24 hours (Source: CoinMarketCap)
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