According to Nick Tomaino (@NTmoney), Base has burned more than $20 million in ETH on the Ethereum mainnet over the past 8 months. This significant ETH burn signals increased network activity and demand for block space, which can lead to reduced circulating supply of Ethereum and potentially influence ETH price volatility. For crypto traders, tracking these large-scale burns is crucial as it may impact Ethereum’s deflationary pressure and enhance trading opportunities, especially as Layer 2 adoption accelerates (Source: Twitter/@NTmoney, May 16, 2025).