The amount of ETH paid out on the network climbs to $ 536 billion in the third quarter

The amount of ETH paid out on the network rose to a new high of $ 536 billion in the third quarter of the year, as we can see in our latest news and analysis on Ethereum prices.

The ETH number paid out to the network from July through September of this year is a whopping $ 536 billion, up 398 percent year over year in 2020 contract platform and third quarter results. The total transaction fees paid by users to miners increased 511% year over year, which is good news for miners but not too big for those who already use the network. Revenue for the reporting period was a whopping $ 1.96 billion, up $ 321 million for the third quarter of 2020.

The report finds that 68% of fees were burned after EIP-1559 was implemented, and at the time of writing, over 710,600 ETH, worth about $ 3 billion at current prices, have been burned. Ethereum had its first beacon chain upgrade called Altair. The ETH issuance rate fell 29% and the report shows that the ETH supply expansion rate fell from 1.11% to 0.79% in the third quarter over the same period. The Ultrasound.Money-Tracker is currently reporting an annual inflation rate of 2.1%, which is expected to drop to -2% annually once the consolidation occurs and the network moves from the proof-of-stake.

Daily active addresses rose 24% last year to 457,402 with a hash rate of 180% from Q3 2020 and are currently at a record high with an average daily hash rate of 785 TH / s. The Ethereum ecosystem grew significantly during the NFT and DeFi eras. The total value locked in defi increased by 1,242 percent compared to the previous year, and the volume of the decentralized exchanges increased by 242 percent during the reporting period. Stablecoin issuance rose 405% year over year in the third quarter. It has been reported that the number of BTC encrypted on Ethereum rose 133% in the third quarter of 2020 to 288,234 in the same period of this year.

Ethereum price is currently cooling off after hitting a new high of $ 4,467, and ETH is currently trading 3.2% to $ 4,300, according to CoinGecko. Net worth grew 1000% over the past 12 months last year, at the same time ETH changed hands for less than $ 400.

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