How Does Ethereum Burning Work?

Though Ethereum burning is done in small quantities each time, the frequency of burns has resulted in a significant amount of ETH being burned. According to Ultrasound Money, the weekly amount of Ethereum burned currently sits at just under 18,000 ETH. This number is always changing but is significant nonetheless.

6,854 ETH Worth $13M Was Just Burned

On Thursday a total of 6,854.19 Ether (CRYPTO: ETH) worth $13,459,506, based on the current value of Ethereum at time of publication ($1,963.69), was burned from Ethereum transactions.

Coinbase Restricts Ethereum, Solana Staking in Four US States

Staking is the process of “locking-up” cryptocurrency to keep a blockchain’s network running. Those who hold proof-of-stake assets—such as Ethereum (ETH), the second largest cryptocurrency by market capitalization—pledge it to the network by sending it to a specific blockchain address and can receive rewards for doing so.