NFT marketplace burns 252 ETH to hit top of burn leaderboard

CryptoSlate Tops Uniswap, OpenSea, and Ethereum txs in ETH Burned

Cover art/illustration via CryptoSlate

NFT marketplace aggregator has surpassed Uniswap, OpenSea, and Etherum transactions as the top ETH burner over the past 24 hours.

Data shared by Access Protocol CEO Mika Honkasalo from Ultrasoundmoney highlighted that over 252 ETH was burned as a result of activity between Feb. 18 and Feb. 19. Furthermore, the two contracts identified by Ultrasoundmoney combined to a total of 310.7 ETH compared to 239.39 ETH and 177.8 ETH from Uniswap and OpenSea, respectively.

How To Get Free Crypto  


However, when Uniswap V2 and V3 contracts are combined, Uniswap burned a total of 328 ETH, narrowly pushing off the top spot. is an NFT marketplace aimed at “pro traders” with the ability to sweep the floor of multiple marketplaces from one dashboard. Blur gained notoriety through its airdrop campaign in late 2022 and has since seen a meteoric rise in popularity.

Analytics platform DappRadar placed at the top of its leaderboard for volume over the past 24 hours as activity rose 41% to hit $114.34 million traded.

Source: DappRadar

Ethereum burn mechanics

A base fee is paid by the sender of an ETH transaction and then burned to reduce the overall supply of ETH. This burn mechanic reduces the overall supply of ETH over time with the implication of increasing its scarcity and potentially increasing its value.

Coinbase Banner  

Burning the base fee, introduced in EIP-1559, also helps create a more stable fee market on the network. As the base fee is dynamically adjusted based on network congestion, burning the fee helps to ensure that the fee market remains stable and that fees do not become excessively high or volatile.

Burn by sector is also closing in on a 30-day timeframe which sees Uniswap and OpenSea top the charts with a combined 14,273 ETH burned in the past month. In addition, was responsible for burning 3,012 ETH across the same period.

Furthermore, the NFT sector took up 23% of the burned ETH over the past 30 days with 18,666 ETH. Comparingly, the DeFi sector took the majority at 32%, with a total of 25,403 ETH burned. However, in the past 24 hours, NFT transactions have burned 549 ETH, and DeFi burned 690 ETH.


Overall, the data suggests that both the NFT and DeFi sectors are significant contributors to ETH burn activity, with the marketplace emerging as a new notable player in the space.

FreeBitcoin Banner  
Latest Report

The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins

The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos.

Andjela Radmilac · 1 day ago

Ethereum NFT market cap shrank 60% in 2022

Cardano founder Charles Hoskinson calls Ethereum staking problematic

Go to Source
Author: Liam ‘Akiba’ Wright

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.