The decentralized finance (DeFi) ecosystem on the Ethereum network has seen a significant increase in activity, with top projects burning 1,361 ETH (approximately $2.96 million) in the past week. Metamask, Uniswap, and Gnosis are among the biggest contributors to Ethereum's burn rate, with Metamask leading the way by burning 24.3 ETH. Uniswap and other platforms like Gnosis, 1inch, and Aave have also contributed to the burning of ETH. Smaller DeFi protocols have also played a role in Ethereum's deflationary mechanism. The continued burning of ETH supports Ethereum's transition towards a deflationary model and could potentially increase the cryptocurrency's long-term value. As DeFi adoption grows, Ethereum's burn rate is expected to increase further.



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