Avalanche destroyed $16.7 million worth of AVAX last week

In the past week, Avalanche users destroyed 439,000 AVAX during transactions, worth approximately $16.7 million USD, thereby reducing the circulating supply of this token. The number of AVAX destroyed weekly has risen to its highest level so far. Avalanche only destroys a few thousand AVAX each week, with a peak reaching 39,000 AVAX in April 2023. At the end of November, it peaked at 85,000 AVAX and reached another peak of 40,000 AVAX two weeks later.