Ethereum Defi Projects Contribute to $6.95 Million In Burned ETH

Ethereum’s deflationary trend has been bolstered by decentralized finance (DeFi) projects, which have burned over $6.95 million worth of Ether in the past 30 days. Data from Ultrasound.money shows that these projects contributed to a significant portion of Ethereum’s burn rate, totaling 3,796 ETH. Uniswap, MetaMask and Gnosis led the way, with Uniswap’s high transaction volume fueling substantial gas fee burns.