What's Hot

    US authorities launched a targeted campaign against cryptocurrencies: the opinion of the head of Galaxy Digital

    01.04.2023

    SpaceX will deliver a chest with a private key to 62 bitcoins to the moon

    01.04.2023

    “You can’t trade crypto without technical analysis,” Ilya Solovey

    01.04.2023
    Facebook Twitter Instagram
    Sunday, April 2
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»The millionth coin will be burned in the Ethereum network in 5 days
    bd398df9343a4f97aaafde7089b103824d02210d
    Bitcoin

    The millionth coin will be burned in the Ethereum network in 5 days

    AdministratorBy Administrator18.11.2021No Comments1 Min Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    bt-crow.com

    18 November 2021 17:26, UTC

    Reading time: ~ 2 m


    The commission burn mechanism on the Ethereum network removes most of the ETH from circulation and creates conditions under which the asset becomes deflationary.

    At the moment, thanks to the mechanism in the EIP-1559 update, more than 930,000 ETH have been burned, and there is reason to believe that we will soon see a million burned coins.

    The millionth coin will be burned in the Ethereum network

    The current rate of burning is about 12,000 coins per day, respectively, at such a rate in the next 4-5 days a millionth coin will be burned on the network.

    Due to its high burning rate, Ethereum can enter a supply shock when the price of an asset changes rapidly due to the inability of the coin to balance supply and demand.

    The situation is getting worse due to a sharp increase in the outflow of ethers from crypto exchanges, which indicates that traders do not want to sell their assets and prefer to keep them in a more secure place.




    #millionth #coin #burned #Ethereum #network #days

    burned Coin days Ethereum millionth Network
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    SpaceX will deliver a chest with a private key to 62 bitcoins to the moon

    01.04.2023

    Big Week for Ethereum Scaling Technologies

    01.04.2023

    Bitcoin Copernicus Forecast

    01.04.2023

    Ethereum zkSync Era scaling solution down for over four hours

    01.04.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • US authorities launched a targeted campaign against cryptocurrencies: the opinion of the head of Galaxy Digital
    • SpaceX will deliver a chest with a private key to 62 bitcoins to the moon
    • “You can’t trade crypto without technical analysis,” Ilya Solovey
    • the future of banks is determined not by banks, but by bitcoin
    • Big Week for Ethereum Scaling Technologies
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.