Top DeFi Projects by Weekly ETH Burning According to Phoenix Group

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by Giorgi Kostiuk

2 years ago

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  1. Uniswap Leads the DeFi Projects by ETH Burning
  2. Similar Achievements by Other DeFi Projects
  3. ParaSwap Bottoms the List


    4. A prominent analytics-providing platform, Phoenix Group, has recently provided a list of top DeFi projects based on weekly ETH burning. This list includes projects such as Uniswap, 1inch, USD Coin, 0x Protocol, Metamask, Gnosis, Pendle, Kyber Network, Aave, and ParaSwap.

    Uniswap Leads the DeFi Projects by ETH Burning

    As per the data from Phoenix Group, Uniswap has dominated the DeFi sphere in terms of 7-day ETH burning. In this respect, Uniswap has reportedly burned 278.1 ETH. This figure equals a value of nearly $737.8K. Following that, 1inch has taken the 2nd position. The popular DeFi project has burned up to 31.3 ETH with a value of approximately $83.0K. Additionally, USD Coin has gained the 3rd spot with almost 30.0K ETH tokens burned, valued at nearly $79.6K.

    Similar Achievements by Other DeFi Projects

    0x Protocol stands in the 4th place with 279 ETH burned, corresponding to a value of nearly $74.0K. Moreover, Metamask occupies the 5th spot with 27.1 ETH burned, equaling up to $71.9K. Following Metamask is Gnosis, which has recorded a token burn comprising 12.4 ETH, accounting for $32.9K.

    ParaSwap Bottoms the List

    Pendle takes the 7th position with 11.4 ETH burned, valued at approximately $30.2K. Kyber Network secures the 8th spot with 8.1 ETH burned, equaling $21.5K. Aave’s 7-day token burn includes 5.8 ETH worth $15.4K. ParaSwap gets the last place on the list with 2.9 ETH burned, accounting for $7.7K.

    The list of DeFi projects by weekly ETH burning demonstrates the impact of various projects on the Ethereum economy. The data provided by Phoenix Group offers insights into the activity and popularity of DeFi platforms.

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