$ 82,408.2
$ 1,836.69
$ 0.6692
$ 605.23
$ 126.10
Mar 1, 2022
$5.69 Billion Ethereum Burned By EIP-1559
The London hard fork implemented the Ethereum Improvement Proposal (EIP) 1559, through which the Ethereum network was upgraded. Since then, over $5.69 billion worth Ether has been burned using today's exchange rates.
Since the EIP-1559, the community observed last year how much Ethereum is burning on a day-to-day basis. Ethereum advocates like this concept as it makes Ether deflationary over time. With the implementation of the London hard fork, Vitalik Buterin had claimed that EIP-1559 is a vital part of London.
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Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.