The DeFi projects are making considerable progress in terms of burning Ethereum, based on the latest market statistics. As per the data from the crypto analytics firm Phoenix Group, Metamask, Uniswap, and Gnosis are the leading players among the top DeFi projects burning Ethereum this week. The platform took to social media to share the list of prominent Ethereum burning projects.
Metamask Leads DeFi Projects Based on $ETH Burned over 7 Days
In line with Phoenix Group’s data, Metamask has topped the list of DeFi projects responsible for burning Ethereum. Specifically, Metamask saw up to 29.1 $ETH burned over the week. This value denotes a significant value of nearly $78.9K. The 2nd well-known project in terms of burning $ETH is Uniswap. During the past seven days, Uniswap effectively burned 27.2 $ETH, accounting for almost $73.7K.
The next name on the list of popular $ETH burning projects is Gnosis. The project reportedly witnessed burning of 20.4 $ETH, signifying a $55.3K in total. Subsequently, 1inch has taken the 4th place among the top $ETH burning projects. The weekly burned $ETH tokens of 1inch have reached 15.9 in number, showing a $43.1K amount. Following this, Pendle stands in the 5th rank by burning 8.7 $ETH this week, denoting $23.6K cumulatively.
Hex Bottoms List with 2.5 $ETH ($6.8K) Burned During Throughout Week
Another noteworthy project on the list is Aave as it has burned 6.3 $ETH during the past 7 days. The weekly burned $ETH of Aave account for approximately $17.1K. Following that Kyber Network has secured the 7th position among the prominent $ETH burning DeFi projects. It has efficiently burned 4.9 $ETH, representing $13.3K. 0x Protocol is the 8th prominent project as it has burned 4.5 $ETH (nearly $12.2K) over this week. Moreover, ParaSwap’s weekly burned 2.7 $ETH denotes $7.3K. Furthermore, Hex has gained the last position with a 2.5 $ETH burned, denoting a $6.8K.
