The founder of the engagement fund Mark Cuban and Peter Thiel wrote on Twitter that more than 367,779.96 Ethereum were burned in Q3 this year.
According to a recent tweet by the founder and manager of a confirmation venture fund, Nick Tamaino, in the third quarter of this year, the value of the Ethereum column: 367,779.96 coins has been incinerated.
1confirmation is a venture fund supported by famous names such as billionaire Mark Cuban and billionaire Peter Thiel – both former vocal critics of crypto who have become big fans of crypto recently.
That amount of Ether costs more than $ 1.2 billion in fiat. The most accurate statistics are provided by ethburned.info: the total price of Ethereum burned is 409,669.05, costing $ 1,358,695,270.66.
Ethereum Fees Earned Vs Burned Vs Avg. Gas Price – Source: Dune
In an hour, 251.14 ETH were destroyed – equivalent to $ 811,370.23.
Ethereum’s investment strategy and burning fees were introduced in the development of EIP-1559 released on August 5, also known as the London hard fork.
Meanwhile, Ethereum has slipped back to $ 3,250, after Bitcoin reached $ 44,000 to about $ 48,000 earlier today. Small Ethereum wallets number has grown to 3.8 million, according to data shared by IntoTheBlock.
The glass knot shared that the price of ether in exchange (7-day MA) dropped to the lowest level per month, hitting $ 23,957,870.33 on fiat.
The number of small ETH investors holding more than 0.1 ETH recently showed an ATH increase of 5,705,698.
It was reported that Ethereum Improvement Proposal (EIP) 1559 was an important part of a tough fork in London on August 4. The EIP aims to stabilize the stock market, strengthen the economic value of ETH and the inflation rate from miner’s wages. Since its inception, 409,859 ETHs in the basic currency – costing more than $ 1,359,932,694 at current exchange rates – have been burned and permanently removed from circulating sales.