Nick Tamaino, Chief Executive Officer of the 1confrimation endeavor fund, recently tweeted in this year’s 3rd quarter that 367,779.96 Ethereum coins had burned.
$1.2B+ worth of ETH was burned in Q3 🦇🔊
— Nick Tomaino (@NTmoney) October 1, 2021
409,669 ETH Melted
The venture fund 1confirmation is upheld by heavyweights such as billionaire Mark Cuban and multi-millionaire Peter Thiel. Both have been outspoken critics of crypto who have lately developed into huge crypto fans.
That quantity of Ethereum is approximately $1.2 billion in fiat. Ethburned.info gives even more precise figures:
The complete quantity of Ethereum incinerated is 409,669.05, worth $1,358,695,270.66.
In fact, 251.14 ETH ($811,370.23) have been damaged in the last hour alone!
The mechanism for eradicating Ethereum fees was presented in the EIP-1559 upgrade on the 5th of August, aka the London hard fork.
Ethereum Regains $3,250, Exchange Inflows Decline
Meanwhile, Ethereum has been restored to the $3,250 area, complying with Bitcoin’s jump from $44,000 to near $48,000 earlier today. The amount of small Ethereum wallets has increased to 3.8 million, says IntoTheBlock.
The number of Ethereum inflows to exchanges (7-day MA), according to Glassnode, has decreased to a one-month low, getting to $23,957,870.33 in fiat.
Small-sized ETH investors holding more than 0.1 ETH just showed a rise to an ATH of 5,705,698.
Nate got into crypto by investing in stable coins/altcoins using an algorithmic trading strategy. Shortly thereafter, he began writing about blockchain technology and all things crypto. He has become involved in a number of crypto-related projects and continues to be passionate about all things crypto.