Burn baby burn! The burning rate of Ethereum has spiked to new ATH levels following the sale of tokenized land plots in yugalabs’ Metaverse project the “Otherside.”
that since the integration of EIP-1559 on August 5, 2021, the average burn rate has been 5.81 ETH per minute.
Amid the Otherdeed NFT sale, however, that figure jumped to 9.83 ETH per minute for a total of 99,084.65 ETH over the past seven days. Since then, the burn rate has dropped back down to around 3.9 ETH per minute.While other platforms and projects accounted for this figure, it’s notable that Otherdeed NFTs top the “burn leaderboard” over the past seven days at roughly 55,817 ETH, or 56% of all burns during that period. This figure is significantly ahead of second-placed OpenSea at 7,152 ETH.
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