In the past seven days, decentralized finance (DeFi) projects in the Ethereum ecosystem have burned a total of 7,024 ETH, equivalent to $22.4 million, as part of their transaction fee mechanisms. Uniswap was the top ETH burner, followed by 1inch, Metamask, and Gnosis. Uniswap, known for its high trading volumes, burned 741.5 ETH, while both 1inch and Metamask burned 150.4 ETH each. Other notable projects that contributed to the burn include Aave, Pendle, 0x Protocol, Kyber Network, Chainlink, and Ondo. The cumulative fee burn reflects the thriving DeFi activity on the Ethereum network and the EIP-1559 upgrade has helped in reducing the circulating supply of ETH, enhancing its value proposition. These top burners demonstrate the central role of Ethereum in the DeFi revolution and contribute to the asset's scarcity. The participation of these projects highlights the growing adoption of decentralized applications and the shift towards decentralized finance as a mainstream financial system. Overall, these projects play a pivotal role in shaping the Ethereum ecosystem and driving its growth.



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