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Uniswap Leads with 1,277 ETH Burned: Top DeFi Projects With Highest Burned ETH in the Last 7 Days

Author: Content Editor
The Ethereum ecosystem has seen a significant amount of ETH being burnt, reducing the token's circulating supply. In the past week, a total of 9,892 ETH, worth $33.3 million, was burnt. This burn activity is mainly attributed to various decentralized finance (DeFi) projects.

Uniswap, a popular trading and swapping platform, burnt 1,277.1 ETH ($4.3 million) due to its high level of interaction within the DeFi sector.

1inch, a decentralized exchange aggregator, burnt 263.8 ETH ($887.7K) as it effectively routes trades to reduce costs, making it a preferred platform for traders.

Metamask, a crypto wallet enabling users to engage with Ethereum and DeFi platforms, burnt 253.3 ETH ($852.4K) due to heavy usage.

0x Protocol, a decentralized exchange protocol, burnt 212.3 ETH ($714.4K) as it allows for direct asset swaps between users.

Gnosis, a prediction market and DeFi tools provider, burnt 120.8 ETH ($406.5K) due to its variety of applications and engaged community.

MANTRA, a staking, lending, and governance DeFi platform, burnt 57.1 ETH ($192.1K) due to its focus on community engagement.

ParaSwap, a decentralized exchange aggregator, burnt 51.3 ETH ($172.6K) as it facilitates effective trades across various DEXs.

Aave, a leading lending and borrowing platform, burnt 38.5 ETH ($129.6K).

Kyber Network, a liquidity protocol for token exchange, burnt 30.9 ETH ($104K) mainly through swaps.

Pendle, a protocol for trading future yield, burnt 30 ETH ($101K), showcasing its unique concept within DeFi.

The burning of ETH has become prominent on Ethereum, especially after the implementation of the EIP-1559 upgrade, which includes the burning of a base fee during each transaction. This continuous burn activity reduces the supply and increases the value prospect of ETH.

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