According to the data (as of the end of this week), since the activation of the London hard fork on August 5, 2021, the Ethereum network has destroyed more than 4.50 million ETH, worth more than $15.30 billion at current prices. The EIP-1559 included in this upgrade opens the mechanism to destroy part of the transaction fee, thus effectively reducing the supply of ETH in circulation.
Although about 4.50 million ETH have been destroyed so far, ultrasound.money data suggests that Ethereum has not become deflationary as some in the industry predicted. Currently, the network's inflation rate has edged up to 0.820%, adding 3,245,017.99 ETH to circulation since the London fork.
Over 4.50 million ETH destroyed since EIP-1559 deployment, worth over $15.30 billion
2024-12-22 03:58:23
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