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Controlled burning: The Ethereum chain burns 12,000 USD of ETH every minute

Ethereum miners watched their ether go to naught—just as the network expected.Bitcoin news Report Depend on London hard fork This results in the destruction of ETH worth more than $12,000 per minute.

The report cites sand dune analysis dash board Known as “Ethereum after 1559”, it tracks the amount of ETH burned after it went online on August 5 in London. Bitcoin News stated on August 22 that 73,784 ETH (approximately US$230 million at the exchange rate of the day) was introduced in the hard fork.

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