Phoenix Group has recently published an analysis with regard to the top Ethereum-burning decentralized financial (Defi) projects in the last 30 days that ended on 4 May 2025. The report is based on data provided by ultrasound.Money, it presents a wide image of Defi Etheum-Consolaten.
Top #Tereum burner #defi projects in the last month #uniswap $ uni #metamask #gnosis $ gno #1inch #aave $ aave #pendle #kyberswap $ dydx #synthetix $ psp pic.twitter.com/uw4zc4ntdddd
– Phoenix – Crypto News & Analytics (@PNXGRP) 4 May 2025
The top projects due to burning speed on Ethereum
Ethereum ($ ETH) was the leading burner for the period, with Uniswap Burning 83.1 ETH, or around $ 152,000. Metamask was on their heels and burned 75.1 $ ETH, around $ 137,400. Third came gnosis, with 74.1 $ ETH burned and a value of $ 135,500. These figures show the high transaction volumes and numerous user interactions on these platforms.
Aave and 1 inch finish the top five with 66.6 ETH and 52.6 ETH burned. Involvement with Aave’s loan and loan protocols was around $ 96,200. 1 Inch also fed a burning value of $ 121,800 while it continues to behave as one of the most important decentralized exchange aggregators.
Cumulative network impact and other contributors
For more than 30 days, the collective burn of Ethereum from the stated Defi projects was 5,022 $ ETH worth an estimated $ 9.19 million. This emphasizes the substantial location of Defi protocols in the deflatoire mechanism of Ethereum based on the EIP-1559 upgrade.
Pendle (23.2 $ ETH, $ 30,000), Kyber Network (17.7 $ ETH, $ 42,000) and Dydx (16.4 $ ETH, $ 42,000) also burned between $ 30,000 and $ 42,000 in ETH. Subsequently, Synthetix and Paraswap registered a few burns of 10.7 $ ETH and 9.6 $ ETH respectively.
These figures represent active Defi user activity on different platforms. All protocols burn $ ETH on the network via Ethereum for gas costs, and the volumes of the transactions they process influence the speed of burning $ ETH on the network.
The data shows that Ethereum continues to go to a deflationary model due to its fire mechanism. Gas costs are a consumption item in network transactions, and part of the amount is permanently removed from the total delivery of circulating $ ETH.
