According to data from Ultra Sound Money, a total amount of 2,469 ETH worth roughly $4 million has been burned in the last seven days, removing a portion of ETH from circulation permanently, which has had a positive effect on ETH’s price. 

Over the past weeks, Ethereum network activity has been trending to the upside, mirroring ETH’s surge in price. Two weeks ago, NewsBTC reported that the amount of Ethereum burned recorded a new high exceeding the 3,000 ETH mark. 

This metric seems relatively low to the ETH burned due to the BLUR token airdrop, which hasn’t been the only new high Ethereum has recorded in the past month. In January, the Ethereum staked on the Beacon chain, the proof-of-stake blockchain, reached an all-time high of over 16.16 million ETH, which holds more than 13.28% of the total ETH supply.