Market Cap: $2.9359T 6.740%
Volume(24h): $135.0081B 55.110%
  • Market Cap: $2.9359T 6.740%
  • Volume(24h): $135.0081B 55.110%
  • Fear & Greed Index:
  • Market Cap: $2.9359T 6.740%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top News
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
bitcoin
bitcoin

$92782.214843 USD

5.41%

ethereum
ethereum

$1785.831012 USD

13.27%

tether
tether

$1.000130 USD

0.04%

xrp
xrp

$2.217379 USD

6.56%

bnb
bnb

$612.886223 USD

2.38%

solana
solana

$148.357570 USD

6.30%

usd-coin
usd-coin

$0.999869 USD

0.00%

dogecoin
dogecoin

$0.180638 USD

12.93%

cardano
cardano

$0.687590 USD

10.47%

tron
tron

$0.247855 USD

0.76%

chainlink
chainlink

$14.264786 USD

8.51%

avalanche
avalanche

$22.218995 USD

11.78%

sui
sui

$2.741167 USD

22.93%

unus-sed-leo
unus-sed-leo

$9.065415 USD

-0.56%

stellar
stellar

$0.266802 USD

7.35%

Cryptocurrency News Articles

Ethereum (ETH) DeFi Ecosystem Continues to Drive Significant Network Activity, Burning 1,361 ETH in Past 7 Days

Mar 30, 2025 at 12:00 pm

Ethereum's decentralized finance (DeFi) ecosystem continues to drive significant network activity, with top projects burning 1,361 ETH in the past seven days.

Ethereum (ETH) DeFi Ecosystem Continues to Drive Significant Network Activity, Burning 1,361 ETH in Past 7 Days

According to the latest data from ultrasound. Money and compiled by Phoenix Group, major decentralized finance (DeFi) projects have continued to drive significant network activity on the Ethereum blockchain, leading to top protocols burning a collective 1,361 ETH over the past seven days.

The cumulative fee burn, which amounts to approximately $2.96 million, showcases the increasing demand for DeFi applications and their role in Ethereum’s deflationary mechanism. Among the top Ethereum burner projects, Metamask takes the lead with 24.3 ETH burned, valued at $52.8K, in the past seven days. The widely used non-custodial wallet facilitates countless Ethereum transactions.

Following closely is Uniswap, the leading decentralized exchange (DEX), with 21.7 ETH burned, translating to around $47.2K in fees. Uniswap’s high trading volumes and active liquidity pools make it a key driver of Ethereum network usage.

Other notable contributors include Gnosis (19.9 ETH, $43.3K), 1inch (19.8 ETH, $43.0K), and Aave (14.9 ETH, $32.4K). These platforms play essential roles in decentralized trading, smart contract execution, and lending protocols, further solidifying their importance in Ethereum’s economy.

Smaller DeFi protocols have also contributed to Ethereum’s deflationary process. Pendle, Kyber Network, 0x Protocol, ParaSwap, and Hex together burned over 21.6 ETH, with individual burns ranging from 3.6 to 4.6 ETH. Despite their lower burn rates than top-tier DeFi projects, these platforms remain crucial in enabling diverse, decentralized financial services, such as yield tokenization, cross-chain swaps, and permissionless trading.

The Ethereum burn mechanism, introduced through EIP-1559, reduces the circulating supply of ETH by permanently removing a portion of transaction fees. The burning initiative was designed to balance the introduction of new tokens through staking activities.

With transaction volumes remaining high and adoption continuing, the deflationary impact of these fee burns could play an increasingly significant role in shaping Ethereum’s long-term value. Investors and developers will be watching closely as DeFi projects evolve and contribute to Ethereum’s ever-expanding financial landscape.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Apr 23, 2025