Pendle

Uniswap

DeFi

0x Protocol

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/defi-projects-influence-eth-supply-and-market-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi Projects Influence ETH Supply and Market Trends</a><br></p>
<p style="text-align: justify">Recent developments in the DeFi sector of the Ethereum ecosystem are significantly impacting ETH supply. Changes, particularly fluctuations in ETH burn rates, lead to a decrease in supply and influence price movements. A recent report published by the Phoenix Group highlights leading projects in ETH burning, including Uniswap, MetaMask, and 1inch.</p>
<h2 style="text-align: justify" id="strong-uniswap-the-leader-in-token-burning-strong"><strong>Uniswap: The Leader in Token Burning</strong></h2>
<p style="text-align: justify">Uniswap, a decentralized exchange that facilitates <a href="https://en.coin-turk.com/binance-lists-bonk-coin-leading-to-significant-price-increase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> swaps, leads in ETH burning activities. Last week, approximately 1,841.9 ETH, valued at around five million dollars, was burned. This indicates the high level of utilization Uniswap has on the Ethereum network.</p>
<h2 style="text-align: justify" id="strong-1inch-and-metamask-key-players-in-defi-access-strong"><strong>1inch and MetaMask: Key Players in DeFi Access</strong></h2>
<p style="text-align: justify">1inch stands out as a DEX aggregator providing the best trading rates across various DEXs. In the last week, it executed a burn equivalent to 207.7 ETH, approximately 558.7 thousand dollars. Despite being primarily a digital wallet, MetaMask burned 200.6 ETH, roughly 539.6 thousand dollars this week, showcasing its significant role within the DeFi ecosystem.</p>
<h2 style="text-align: justify" id="strong-0x-protocol-and-gnosis-the-hidden-players-of-defi-strong"><strong>0x Protocol and Gnosis: The Hidden Players of DeFi</strong></h2>
<p style="text-align: justify">0x Protocol burned 156.4 ETH, or 420.7 thousand dollars, by offering DEX services across various platforms. This protocol facilitates peer-to-peer trading among different dApps. Gnosis, a platform providing market forecasting and DeFi tools, also contributed by burning 106.1 ETH, valued at 285.4 thousand dollars, further emphasizing its growing role in the Ethereum ecosystem.</p>
<h2 style="text-align: justify" id="strong-pendle-kyber-network-aave-and-others-strong"><strong>Pendle, Kyber Network, Aave, and Others</strong></h2>
<p style="text-align: justify">Pendle contributed 38 ETH, approximately 102.2 thousand dollars, through yield tokenization, while Kyber Network burned 36.6 ETH, or 98.5 thousand dollars. Lending protocol Aave also participated, burning 24.5 ETH, valued at 65.9 thousand dollars. Additional projects like ParaSwap and Tokenlon saw burns of 22.3 ETH (60 thousand dollars) and 15.6 ETH (42 thousand dollars), respectively.</p>
<p style="text-align: justify">Last week, DeFi projects collectively reduced ETH supply by 12,233 ETH, equating to about 32.9 million dollars. This suggests a growing interest in DeFi usage, indicating that ETH’s limited supply could significantly affect prices. The increase in ETH burning illustrates the substantial impact DeFi projects have on the Ethereum network.</p>
<p style="text-align: justify">In conclusion, DeFi projects are decreasing ETH supply, with Uniswap and 1inch leading this trend. A total of 32.9 million dollars worth of ETH was burned, highlighting the rising interest in the DeFi ecosystem and Ethereum’s potential to maintain its value.</p>
<p>The post <a href="https://en.coin-turk.com/defi-projects-influence-eth-supply-and-market-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi Projects Influence ETH Supply and Market Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

DeFi Projects Influence ETH Supply and Market Trends

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