Since Ethereum's London hard fork 21 months ago, the network has seen the elimination of more than 3.33 million Ether, amounting to $6.1 billion. Currently, about 3.51 ether is burned every minute. The Opensea platform has emerged as a significant player in the burn process since August 5, 2021, ranking just below traditional ETH transfers, with a contribution of 230,050 ETH burned.
Around 90 days ago, the market value of 74 digital currencies driven by AI was more than $4 billion. However, in the intervening period, the market has suffered a loss of over $1 billion in value.
Defillama reports that the current market capitalization of stablecoins stands at $129 billion, which is a decrease from the May 2022 figure of over $186 billion, when Terra UST depegged.
Stablecoins Experience 14 Consecutive Months of Decline
According to CCData, the market capitalization of the stablecoin industry is currently at its...