CandleFocus DeFi Platforms Burn $58.9M in $ETH Past Week, Led by Uniswap
2024-11-18
Author: Content Editor
In the past week, the Ethereum ecosystem saw a significant amount of burn transactions in DeFi projects, with 18,936 ETH worth $58.9 million being burned. Uniswap emerged as the top Ethereum gas burner, accounting for 47% of the total gas burned in DeFi transactions. Metamask also played a significant role, consuming 450.8 ETH ($1.4 million). Other notable contributors included 1inch, 0x Protocol, Gnosis, ParaSwap, Aave, KyberSwap, Pendle, and Chainlink. The fee burn mechanism of Ethereum reduces the supply of ETH and strengthens its role as a deflationary asset. The activity of these DeFi platforms highlights the growing significance of DeFi within the blockchain industry. Efficient gas management is crucial for Ethereum users and developers.
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