Over 460,000 Ethereum Burned in 2024 Thus Far: Report
The Ethereum Network has had a rough year thus far in terms of burning ETH, with just over 460,000 Ether burned in 2024. An Analysis from CoinGecko reveals that as of August 5, 2024, the network has burned 465,657 ETH this year. According to CoinGecko’s research, 107,725 ETH were burned in 2024 Q2, a -67.7% drop from the first quarter’s 333,555. 17,114 ETH were burned in July 2024, marking a monthly all-time low this year, and a -35.0% decrease from June. The data reveals that Ethereum emissions have outpaced burns, with 540,958 ETH added to the network since the start of 2024. 465,657 ETH have been burned, resulting in a net total of 75,301 ETH added to the network. Ethereum in 2024 Thus Far: Burn Rate Down, Prices Up Ethereum has been up and down throughout 2024, with an overall jump of 46% in price in 365 days. This is largely due to the crypto bull surge this past March, sparking Ethereum to over $4,000. The asset has since settled back on earth to $2,680 at press time...