4.4 thousand Ethereum coins were destroyed in one day 


On 05.08.2021, the Ethereum network started burning a portion of the commission previously transferred to miners. Since then, 4.4 thousand ETH coins have been destroyed in one day. Translated into dollars, this amount is $12.2 million.

The burning of etherium tokens is aimed at reducing their number in circulation. Experts believe that destroying digital coins is an effective way to fight inflation. 

Ethereum exchange rate August 4-6, 2021

After the launch of the token burning mechanism, the value of etherium rose by 7%. Sometimes the rate reached $2.8 thousand. Experts note that the growth of ETH price after the updates looks natural. At the moment, the classical market scenario is being implemented: when the number of coins in circulation decreases, the quotes go up. Experts predict an increase in the value of the altcoin by the end of 2021 to $5-6 thousand, if the rate will continue to grow at the same rate.

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