More than 913,000 ETH—worth over $3.43 billion at today’s prices—has been irretrievably lost, according to data from Coinbase’s Conor Grogan. This represents around 0.76% of Ethereum's total circulating supply, vanished due to user errors, faulty smart contracts, and irreversible blockchain mistakes.
Grogan clarified that this figure only includes permanently inaccessible ETH, such as tokens trapped in broken contracts or sent to burn addresses. It does not account for ETH lost due to forgotten private keys or inactive Genesis-era wallets, meaning the true number may be significantly higher.
Biggest Blunders: Millions Lost in a Click
Among the largest recorded losses:
🔹 306,000 ETH – lost due to a bug in Parity Multisig wallets
🔹 60,000 ETH – stuck in the smart contract of failed exchange QuadrigaCX
🔹 11,500 ETH – lost after a minting failure in the Akutars NFT project
Since last year, only minimal changes occurred – around 1,000 more ETH has been sent to burn addresses. However, total losses due to these types of mistakes have surged 44% since March 2023, when they stood at 636,000 ETH.
“To be clear – this $3.4 billion figure is a conservative estimate. It only includes ETH that is provably locked or burned.” – Conor Grogan
ETH Tokenomics: Burning Supply and Deflation in Action
In addition to accidental losses, Ethereum’s supply is shrinking due to intentional burning mechanisms. Since EIP-1559 was implemented, over 5.3 million ETH has been burned. Combined with lost ETH, over 6 million ETH has now been permanently removed from circulation—roughly 4–5% of the total supply, which stands at around 120.7 million ETH.
Ethereum does not have a hard supply cap like Bitcoin, but thanks to Proof-of-Stake and deflationary mechanisms, inflation is kept under control—boosting Ethereum’s appeal as a long-term store of value.
Whales Are Buying: Institutional Demand Surges
According to Lookonchain, Ethereum whales and institutional players purchased over $2.7 billion worth of ETH in a single week. This wave of accumulation aligns with positive regulatory momentum—especially the recent approval of the GENIUS Act, which established a legal framework for stablecoins and boosted confidence in L1 networks like Ethereum and Solana.
ETH Price Breakout on the Horizon?
Over the past month, Ethereum’s price has surged 57.6%, reaching a local high of $3,834. It now trades just above $3,800, and analysts believe a clean break above $4,000 could be imminent if momentum continues.
Key bullish signals:
🔹 ETH’s market share grew from 9.7% to 11.6%
🔹 Open interest soared from $18B to over $28B
🔹 ETH spot ETFs saw more inflows than BTC for two consecutive days
🔹 Bitcoin dominance dropped from 64% to 60%
QCP Capital highlighted this shift as a sign that altcoins are gaining ground, with Ethereum leading the charge. Analyst Rekt Capital noted that ETH has bounced 120% off a key historical demand zone, now aiming to test the upper boundary of its macro range between $2,200 and $3,900. A breakout could open the path to new all-time highs.
🔍 Conclusion: Losses Mount, Yet Ethereum Grows Stronger
The loss of more than $3.4 billion in ETH underscores the risks of human and technical errors in the crypto world. Yet paradoxically, these losses—along with protocol-level burning—are making Ethereum increasingly scarce. Combined with bullish regulation, institutional inflows, and a robust network upgrade path, ETH is emerging as a deflationary powerhouse with growing investor confidence.
#Ethereum , #ETH , #blockchain , #burning , #CryptoMarket
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“