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.

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.

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