NFTs have overtaken DeFi as Ethereum's top gas consumer Non | DeFi Protocol

NFTs have overtaken DeFi as Ethereum's top gas consumer

Non-exchangeable tokens (NFTs) have become the top gas consumer on the Ethereum blockchain, surpassing decentralized finance projects.

OpenSea's NFT marketplace came out on top of the list of Ethereum's largest gas consumers with a share of more than 10%. This exceeds the combined consumption of the second and third versions of the decentralized exchange Uniswap, which has long held the primacy. Uniswap is followed invariably by Tether stabelcoin. The NFT gaming platform Axie Infinity is also in the lead.

Last week, the Ethereum blockchain saw the activation of the London update, the main innovation of which was the EIP-1559 commission-burning mechanism. OpenSea is also the leader in terms of ether coins taken out of circulation with 3,368.43 ETH ($11 million). In total, 26,888 ETH worth $87 million have been destroyed since the update.