{"id":596720,"date":"2024-03-07T16:00:44","date_gmt":"2024-03-07T16:00:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=596720"},"modified":"2024-03-07T12:49:45","modified_gmt":"2024-03-07T12:49:45","slug":"eth-burned-ethereum-dencun","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/eth-burned-ethereum-dencun\/","title":{"rendered":"Total ETH Burned Crosses 1.5 Million Ahead Of Ethereum Dencun Upgrade"},"content":{"rendered":"

The Ethereum Dencun upgrade<\/a> is fast approaching and there have already been notable developments leading up to it. Besides the price of ETH<\/a> rising to new two-year highs, there has been a significant increase in the amount of ETH that has been burned so far.<\/p>\n

Over 50,000 ETH Burned<\/h2>\n

The Ethereum burn, which was brought with the EIP-1559 upgrade, has been ramping up over the past year. The ETH burned from fees on the blockchain quickly crossed the $100 million mark, and has now climbed to a new milestone.<\/p>\n

Related Reading: Crypto Analyst Predicts XRP Price To Break Out Of Bull Pattern, Here Are The Targets<\/a><\/div>\n

According to Ultrasound Money<\/a>, a website dedicated to tracking the performance of Ethereum since EIP-1559 was implemented, there have now been over 1.5 million ETH burned. A more accurate figure is 1,502,518.84 ETH<\/a> at the time of writing, which is more than $5.6 billion at current prices.<\/p>\n

The number of burned ETH has also greatly surpassed that of ETH issued, which means that the network has turned deflationary. Compared to the 1,502,518.84 ETH burned, there have been only 1,089,809.20 ETH issued in the same time period. This shows that the supply has not increased despite the new issuance, and ETH<\/a> already in circulation is being burned as well.<\/p>\n

At the time of the upgrade in 2022, the total Ethereum supply was 120,521,245. However, since then, the burn has been slowly eating into this figure and is currently sitting at 120,108,332 ETH. This means that the ETH supply has reduced by 412,706 ETH<\/a> worth $1.55 billion since 2022.<\/p>\n

Ethereum Dencun Upgrade Looms On The Horizon<\/h2>\n

The Ethereum Dencun upgrade is the latest in a long line of upgrades that have taken place in an effort to make it a better network. This upgrade is expected to come with a number of improvements for the network, including boosting its efficiency and capacity.<\/p>\n

Related Reading: Shiba Inu Lead Dev Co-Signs Prediction That Would Send SHIB To $100 Billion<\/a><\/div>\n

It was launched on all testnets last week<\/a> which is expected to be the final phase before the launch. The launch itself has been scheduled to take place less than a week from now on March 13<\/a>. Once completed, an increase in block space is expected to follow.<\/p>\n

Presently, the ETH price<\/a> is performing quite nicely leading up to the upgrade. It recently touched $3,900 for the first time since 2022<\/a>, and while there has been a slight retracement, the altcoin continues to trend high above $3,700 at the time of writing.<\/p>\n

\"Ethereum<\/p>\n

ETH price moves toward $3,800 | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Crypto News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Ethereum Dencun upgrade is fast approaching and there have already been notable developments leading up to it. Besides the price of ETH rising to new two-year highs, there has been a significant increase in the amount of ETH that has been burned so far. Over 50,000 ETH Burned The Ethereum burn, which was brought with the EIP-1559 upgrade, has been ramping up over the past year. The ETH burned from fees on the blockchain quickly crossed the $100 million mark, and has now climbed to a new milestone. Related Reading: Crypto Analyst Predicts XRP Price To Break Out Of Bull Pattern, Here Are The Targets According to Ultrasound Money, a website dedicated to tracking the performance of Ethereum since EIP-1559 was implemented, there have now been over 1.5 million ETH burned. A more accurate figure is 1,502,518.84 ETH at the time of writing, which is more than $5.6 billion at current prices. The number of burned ETH has also greatly surpassed that of ETH issued, which means that the network has turned deflationary. Compared to the 1,502,518.84 ETH burned, there have been only 1,089,809.20 ETH issued in the same time period. This shows that the supply has not increased despite the new issuance, and ETH already in circulation is being burned as well. At the time of the upgrade in 2022, the total Ethereum supply was 120,521,245. However, since then, the burn has been slowly eating into this figure and is currently sitting at 120,108,332 ETH. This means that the ETH supply has reduced by 412,706 ETH worth $1.55 billion since 2022. Ethereum Dencun Upgrade Looms On The Horizon The Ethereum Dencun upgrade is the latest in a long line of upgrades that have taken place in an effort to make it a better network. This upgrade is expected to come with a number of improvements for the network, including boosting its efficiency and capacity. Related Reading: Shiba Inu Lead Dev Co-Signs Prediction That Would Send SHIB To $100 Billion It was launched on all testnets last week which is expected to be the final phase before the launch. The launch itself has been scheduled to take place less than a week from now on March 13. Once completed, an increase in block space is expected to follow. Presently, the ETH price is performing quite nicely leading up to the upgrade. It recently touched $3,900 for the first time since 2022, and while there has been a slight retracement, the altcoin continues to trend high above $3,700 at the time of writing. ETH price moves toward $3,800 | Source: ETHUSD on Tradingview.com Featured image from Crypto News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":596737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,84012,7931,6931,8686,78803],"class_list":["post-596720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-burn","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTotal ETH Burned Crosses 1.5 Million Ahead Of Ethereum Dencun Upgrade<\/title>\n<meta name=\"description\" content=\"The Ethereum Dencun upgrade is fast approaching and there have already been notable developments leading up to it.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Total ETH Burned Crosses 1.5 Million Ahead Of Ethereum Dencun Upgrade","url":"http:\/\/ktsl888.com\/news\/ethereum\/eth-burned-ethereum-dencun\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/eth-burned-ethereum-dencun\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Ethereum_360c1e.jpeg?resize=200%2C165","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Ethereum_360c1e.jpeg?fit=305%2C165"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth news","eth price","ethereum","ethereum burn","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-03-07T16:00:44Z","datePublished":"2024-03-07T16:00:44Z","dateModified":"2024-03-07T16:00:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Total ETH Burned Crosses 1.5 Million Ahead Of Ethereum Dencun Upgrade\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/eth-burned-ethereum-dencun\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/eth-burned-ethereum-dencun\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum_360c1e.jpeg?resize=200%2C165\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum_360c1e.jpeg?fit=305%2C165\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum burn\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-03-07T16:00:44Z\",\"datePublished\":\"2024-03-07T16:00:44Z\",\"dateModified\":\"2024-03-07T16:00:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Ethereum_360c1e.jpeg?fit=305%2C165","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/596720"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=596720"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/596720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/596737"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=596720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=596720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=596720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}