The Ethereum network has managed to burn a total of 465,657 ETH since the beginning of 2024. After the EIP-1559 update on August 5, the total amount of ETH burned reached 4.36 million ETH.
As of 2024, the highest monthly burn amount occurred in March, when 147,620 ETH was burned. However, this figure fell short of the all-time high of 398,061 ETH recorded in January 2022. July 2024 marked the lowest monthly burn level of the year with 17,114 ETH, a 35% decrease compared to the previous month. March 2024 broke the record for the highest monthly burn of the year with 147,620 ETH.
In the second quarter (Q2) 2024, there was a 67.7% decrease compared to the first quarter (Q1), with 107,725 ETH burned. In the first quarter, 333,555 ETH were burned. As of 2024, Uniswap stood out as the platform that burned the most with 71,915 ETH, while ETH transfers came in second with 33,538 ETH. Tether (USDT) came in third with 23,332 ETH, while Banana Gun (BANANA) was the platform that contributed the fourth largest burn with 11,060 ETH.
Signs of a Possible Turnaround in the Ethereum Market
Ethereum, the second-largest cryptocurrency by market cap, has recently seen a significant price drop, leading investors to speculate whether the downtrend will continue. However, futures market analysis suggests a reversal could be imminent.
The recent price drop in Ethereum has led to long position liquidations, reaching levels not seen since November 2022. These liquidations indicate a cooling in the futures market and the clearing of many leveraged positions. This could attract new interest in the futures market. If the market rebalances and demand returns, Ethereum has the potential to experience a large price rally in the long term.
A cooling in the futures market could attract new investors and stabilize the market, suggesting that Ethereum could stage a recovery from its price decline.
At press time, ETH is up 2.4% in the last 24 hours, reaching $2,695, marking a 12% weekly increase.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
