It has been one year since Ethereum successfully implemented The Merge upgrade, marking a significant milestone for the entire Ethereum ecosystem and the broader crypto industry. Now, as we reflect on this historic day one year later, what accomplishments has Ethereum achieved after The Merge?
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.
As the second-largest cryptocurrency by market capitalization and a crucial component of the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, Ethereum holds significant importance. Hence, it is relevant to examine the Ethereum price predictions for 2023 as presented by distinguished analysts.