Data: Approximately $16.7 million AVAX was burned in the past week, which is 10 times the amount from the previous week.

BlockBeats news, on December 18th, according to The Block, Avalanche users destroyed 439,000 AVAX tokens worth approximately $16.7 million while conducting transactions in the past week, thereby reducing the circulating supply of the token. The amount of AVAX destroyed weekly has reached its highest level to date. On the Avalanche network, all transaction fees are destroyed. The network's transaction fee is based on the EIP-1559 design, which introduces a burning element in Ethereum's transaction fees. The difference is that Ethereum pays part of the transaction fees to validators and burns the rest, while Avalanche completely destroys the fees.