Ethereum Turns Deflationary as XEN Crypto Degens Dive In

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A brand-new project called XEN Crypto has taken up over half of Ethereum's block space, which is causing the community issuance to decline and fuel prices to increase.

As a result, from October 8 Ethereum supply has started declining.

More than 1,300 ETH worth around $1.7 million have been burned as a result of XEN Crypto in the last 24 hours.

Due exclusively to a coin called XEN, which has used up half of the Ethereum blockspace over the past day, ETH is once again experiencing deflation.

XEN is a project started by the "Fair Crypto Foundation," which has the support of Jack Levin, one of the original Google employees working on cloud infrastructure.

Since inception over the weekend, there have been 369,515 active miners, according to the XEN Network dashboard.

When XEN debuted, Ethereum's offer revealed a discount starting on October 8th.