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Ethereum Network Destroys Over 105,000 ETH in One Month
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Ethereum Network Destroys Over 105,000 ETH in One Month

According to data from ultra sound money, the Ethereum network has destroyed a total of 105,248 ETH, while issuing 70,655 ETH in the past month. 

This has resulted in a net decrease of 34,579 ETH in the Ethereum supply.

The reduction in supply could potentially impact the price of Ethereum, as a lower supply often leads to increased demand and higher prices. 

However, it is important to note that various factors influence the price of cryptocurrencies, and the decrease in Ethereum’s supply is just one of many factors that could affect its value.

As the Ethereum network continues to evolve and develop, it will be interesting to see how these changes in supply and demand dynamics impact the overall market and the value of Ethereum in the long term.

See Also: BONE Soared Over 12% In 1 Week As Shibarium Transactions Surge

Increase In Transaction Volume Of The Ethereum NFT Platform

In November, the transaction volume of the Ethereum NFT platform increased by 109.5%. Data from The Block Pro shows that the transaction volume of the Ethereum NFT platform increased by 109.5% month-on-month to US$558 million in November. 

Also, the monthly transaction volume of the Blur platform has exceeded OpenSea for 10 consecutive months.

In addition, compliance CEX spot trading volume increased by 52.8% in November, reaching US$445 billion. Among them, Binance’s market share is 69.7%, Coinbase’s market share is 11.3%, Kraken’s market share is 5.7%, BTSE’s market share is 5.4%, and LMAX Digital’s market share is 2.9%.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.