The amount of Ether burned each day Has set a new record for two days in a row. More than 30,000 ETH has been burned since Wednesday.
The Block’s data dashboard shows that approximately 14,820 ETH was burned on October 27 as a result of the EIP-1559 proposal that went into effect in early August.
The numbers set a new record the next day. With more than 16,800 ETH burning on Thursday. This increases the total amount of ETH burned to more than 668,000 ETH at the present time, which is approximately $3 billion.
As a result, daily net ETH releases are again negative for two consecutive days. The first occurred during the activation of EIP-1559 on September 4, negative -333 ETH.
But now, the negative has extended to -1,500 and -3,440 ETH on Wednesday and Thursday, respectively. As a result, the daily token release of Ethereum has been on a downward trend overall since the EIP-1559 activation.
Meanwhile, the price of ether surged to new all-time highs above $4,400 on Thursday night. resulting in the total market value Breaks Half a Trillion at $516 Billion
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