{"id":72546,"date":"2023-01-15T15:39:52","date_gmt":"2023-01-15T13:39:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72546"},"modified":"2025-09-09T01:21:07","modified_gmt":"2025-09-08T22:21:07","slug":"in-2022-the-ethereum-network-burned-around-1-8-million-eth","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/in-2022-the-ethereum-network-burned-around-1-8-million-eth\/","title":{"rendered":"In 2022, the Ethereum network burned around 1.8 million ETH"},"content":{"rendered":"<p>In 2022, the Ethereum network burned about 1.8 million ETH. Meanwhile, in the second quarter the pace of the burn slowed markedly as the price of the second-largest cryptocurrency by market capitalization fell, according to <a href=\"https:\/\/forklog.com\/en\/news\/2022-in-figures-bitcoin-crash-ftx-collapse-and-the-rise-of-l2-solutions\">ForkLog&#8217;s analytical report<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"506\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-eth-12-1024x506.png\" alt=\"Dinamika-sutochnogo-chisla-sozhzhennyh-eth-12\" class=\"wp-image-195124\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-eth-12-1024x506.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-eth-12-300x148.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-eth-12-768x379.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-eth-12.png 1361w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Daily burn rate of ETH. Data: ForkLog.<\/figcaption><\/figure>\n<p>Since the activation of EIP-1559, Ethereum has burned almost 2.8 million ETH.<\/p>\n<p>The largest number of coins (~254,000 ETH) were burned in peer-to-peer user-to-user transactions. The NFT marketplace OpenSea and the Uniswap v2 protocol ranked second and third with 230,000 ETH and 145,000 ETH respectively.<\/p>\n<p>In autumn, developers migrated the blockchain to the Proof-of-Stake consensus algorithm. From September 2022 to January 2023, issuance increased by 3,146 ETH. If the network had continued using Proof-of-Work, the figure could have exceeded 1.38 million ETH.<\/p>\n<p>For the year, the share of ETH held in smart contracts of decentralized applications stood at 25.62% \u2014 the figure declined by almost four percentage points over the period. Over 12 months, the total amount of Ethereum on centralized exchanges fell by 14.5%, to around 19.3 million ETH.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"542\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-eth-na-depozitnom-kontrakte-ethereum-2%200-i-chislo-validatorov-9-1024x542.png\" alt=\"Dinamika-kolichestva-eth-na-depozitnom-kontrakte-ethereum-2 0-i-chislo-validatorov-9\" class=\"wp-image-195128\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-eth-na-depozitnom-kontrakte-ethereum-2%200-i-chislo-validatorov-9-1024x542.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-eth-na-depozitnom-kontrakte-ethereum-2%200-i-chislo-validatorov-9-300x159.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-eth-na-depozitnom-kontrakte-ethereum-2%200-i-chislo-validatorov-9-768x406.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-eth-na-depozitnom-kontrakte-ethereum-2%200-i-chislo-validatorov-9.png 1346w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Total ETH in staking and the number of validators. Data: ForkLog.<\/figcaption><\/figure>\n<p>The Shanghai hard fork <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-team-targets-tentative-date-for-shanghai-hard-fork-activation\">targeted for March 2023<\/a> is expected to activate. The update includes EIP-4895, which will allow withdrawing ETH from the Beacon Chain staking contract.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2022, the Ethereum network burned about 1.8 million ETH. Meanwhile, in the second quarter the pace of the burn slowed markedly as the price of the second-largest cryptocurrency by market cap fell, according to ForkLog&#8217;s analytical report.<\/p>\n","protected":false},"author":1,"featured_media":72547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1252],"class_list":["post-72546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72546"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72546\/revisions"}],"predecessor-version":[{"id":72548,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72546\/revisions\/72548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72547"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}