The value of Ethereum's transactions in the third quarter was $ 536 billion

The value of Ethereum transactions settled in the period from July to September this year amounted to as much as $ 536.5 billion. This is an increase of 398% over the same period in 2020. However, this is not the only impressive value the chains managed to achieve in the third quarter.

Total transaction fees paid by users to miners increased by 511% year-on-year. This is good news for miners, but not for those who use the net. Project revenues during this period were a whopping $ 1.96 billion, compared to just $ 321 million in the third quarter of 2020.

The report also noted that 68% of these fees were burned after the August implementation of EIP-1559. As of this writing, more than 710,600 ETH with an estimated value of $ 3 billion at current prices have already been burned. At the end of last week, Ethereum also got the first Beacon Chain update called Altair.

Emissions drop
The ETH emission factor also decreased by 29%. The report found that the rate of expansion of ETH supply in this period decreased from 1.11% in Q3 2020 to 0.79% in Q3 2021. Currently, according to Ultrasound.Money, ETH inflation is 2.1% per annum. It is expected to fall to a deflationary level of -2% annually when the "connect" phase occurs and the network becomes proof-of-stake.

The number of daily active addresses increased by 24% compared to the same period last year. During this time, the network hash rate also climbed 180%. Currently, it is close to record values.

The Ethereum ecosystem also flourished significantly during this period, especially in the case of DeFi and NFT. The total value locked in DeFi grew by 1,242% year-on-year and the volume of decentralized exchanges by 242%.

The issue of stablecoins (405%) and the number of tokenized bitcoins on Ethereum (133%) also soared.

Ethereum is recovering from ATH
Ethereum's price has now receded slightly after hitting a new high of $ 4,467 on October 29. ETH lost 3.2% overnight and is hovering around $ 43,000.

The asset gained 1,000% in the past 12 months. Even last year, at this time of day, ETH was available for around $ 400.

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