Ethereum DeFi Projects Contribute To 1,361 ETH Burn In Just Seven Days
The post Ethereum DeFi Projects Contribute To 1,361 ETH Burn In Just Seven Days appeared on BitcoinEthereumNews.com.
Defi projects have burned 3,796 ETH in 30 days, illustrating Ethereum’s deflationary trend. Uniswap, MetaMask, and Gnosis led the burning activity. Mid-tier platforms such as Pendle and Kyber also participated. Ethereum’s (ETH) deflationary mechanism continues to operate at full strength, driven by active participation from decentralized finance (DeFi) protocols. According to data from Ultrasound.money, more than 3,796 Ether worth $6.95 million has been burned in the last 30 days. A recent tweet by Phoenix Group shows that major DeFi apps are continually using gas fees, proving that Ethereum is a live network. Uniswap topped the list by having the highest network fee burn of 65.5 Ethereum, equivalent to $119,900. Uniswap is the largest DEX by trading volume, and a high transaction volume means a high quantity of gas is needed. Source: X MetaMask trailing behind with 59 ETH or about $109,700. The increasing utilization of tokens for swapping and bridge operations indicates an uptrend in the number of users. Gnosis is third with 54.2 ETH, amounting to $99,200 being burned. The increase is attributed to the rising adoption of multi-signature wallets and treasury services. Other major contributors are 1inch and Aave. 1inch eliminated 43.3 ETH ($79,300), and the Aave, 37.2 ETH ($68,100) due to the high demand for lending and service that aggregates several platforms. Mid-tier Platforms Expand Ethereum Use Cases Mid-level activity came from Pendle, Kyber Network, and 0x Protocol. Pendle burnt a total of 17.4 Ether, worth 31,900 USD. Kyber was the second highest with 10 ETH ($18,300), while 0x ranked 9.5 ETH ($17,400). These platforms add through services such as yield tokenization and liquidity routing, both of which help demonstrate added value to the DeFi ecosystem. ParaSwap and Hex closed the chart with 8.5 ETH ($15,600) and 7.5 ETH ($13,700) in fees burned. The data depicts a…
Filed under: News - @ March 31, 2025 1:05 am