Over $1 million worth of ETH burned in recent transaction | Crypto

Over $1 million worth of ETH burned in recent transaction

-On Sunday, 1,220.16 Ether ETH/USD worth $1,357,972 was burned from Ethereum transactions
-This Ethereum burning is a way to remove Ether from circulation and lower its supply
-Ethereum is issuing new Ether at a rate of 4% per year, but this is expected to decrease to around 0.5-1% as part of the Ethereum 2.0 upgrade
-Once the Ethereum 2.0 upgrade occurs, many speculate that the burn rate of Ether will be greater than the token’s issuance, causing ETH to become a deflationary currency

pexels photo 6771900 4 Over $1 million worth of ETH burned in recent transaction

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