According to data from ultra sound money, the Ethereum network has destroyed a total of 105,248 ETH, while issuing 70,655 ETH in the past month.This has resulted in a net decrease of 34,579 ETH in the Ethereum supply.The reduction in supply could potentially impact the price of Ethereum, as a lower supply often leads to increased demand and higher prices. However, it is important to note that various factors influence the price of cryptocurrencies, and the decrease in Ethereum’s supply is just one of many factors that could affect its value.As the Ethereum network continues to evolve and develop, it will be interesting to see how these changes in supply and demand dynamics impact the overall market and the value of Ethereum in the long term.
Increased Transaction Volume on Ethereum NFT Platform
In November, the Ethereum NFT platform experienced a notable surge, with transaction volume soaring by 109.5%. According to data from The Block Pro, the platform recorded a month-on-month increase to $558 million.
Moreover, the Blur platform consistently outpaced OpenSea in monthly transaction volume for ten consecutive months. Additionally, compliance CEX spot trading volume spiked by 52.8% in November, reaching $445 billion. Notably, Binance dominated with a 69.7% market share, followed by Coinbase at 11.3%, Kraken at 5.7%, BTSE at 5.4%, and LMAX Digital at 2.9%.
Disclaimer: The information provided is not trading advice. crytousds.com assumes no liability for investment decisions based on this information. Independent research or consultation with a qualified professional is strongly recommended before making any investment decisions.
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