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9,915 ETH worth $20 million were just burned!
With a value of $20,130,574 USD, calculated based on the current price of Ethereum at the time of publication ($2,030.19 USD), this amount was burned as a result of Ethereum transactions. Burning refers to when a coin or token is sent to an unusable wallet to permanently remove it from circulation.
Why is this important: On August 5, 2021, a significant Ethereum upgrade known as EIP-1159 was implemented in the Ethereum blockchain. This upgrade radically changed the fee model of Ethereum. Now, each transaction includes a variable base fee that adjusts according to the current demand for block space. This base fee is burned or permanently removed from circulation, effectively reducing the supply of Ether.
Currently, Ethereum is issuing new Ether at a rate of 4% per year, although it's expected to decrease to approximately 0.5-1% as part of the Ethereum 2.0 upgrade. Once this happens, many expect the burning rate of Ether to surpass its issuance rate, making ETH a deflationary currency.
Other assets that were burned in 2023:
$369,020WBT on November 14, 2023.
$2M HT token on October 15, 2023.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# 🐋😮Whales' Bull Market Picks: Dogecoin (DOGE) Ethereum (ETH)
As the crypto market prepares for an upward trend, whales are strategically positioning themselves for maximum profit. Among the most preferred are the well-established Dog Decoin (DOGE) and Ethereum (ETH).
Dogecoin (DOGE): Blackrock's Interest Sparks Speculation
Dogecoin (DOGE), the beloved cryptocurrency inspired by memes, is experiencing a surge in momentum. Recent speculation suggests that interest from investment giant blackrock could further increase the bullish trend.
As leading crypto analyst Lark Davis hinted, Blackrock's growing involvement in cryptocurrency Etfs could extend beyond Ethereum to other digital assets, including the fun but durable Dogecoin. Looking at the price movement of Dogecoin, its value increased from $ 0.071 on November 9 to $ 0.080 on November 11.
As a result, experts in the crypto field predicted the rising price of Dogecoin. they estimate that the price will reach $ 0.091 in the fourth quarter of 2023. Therefore, it is not a surprise that whales choose this marker.
Ethereum (ETH): The Upward Trajectory Continues
Ethereum (ETH) is also attracting attention thanks to BlackRock. According to respected analyst James Seyffart, BlackRock, one of the world's largest asset management firms, has entered Ethereum by applying for an ETF on Nasdaq. This news has ignited anticipation and optimism among the Ethereum community and whales.Dec.December.
Therefore, the participation of large companies such as BlackRock in Ethereum really solidifies its status in the mainstream. After this announcement, you could see a jump in the price of Ethereum; the price rose from $ 1,913 to $ 2,058 in a short time.
The forecasts are optimistic; experts' Ethereum price forecasts indicate that it will rise to $ 2,316 before the end of 2023. This shows the positive trend of Ethereum, which continues to be a pioneer for whales in the crypto space.
#ETH #DogeCoin