Drawing upon recent data, the Ethereum network has incinerated close to 3.46 million ether, translating to a staggering $6.68 billion in value burned since the London hard fork’s implementation on August 5, 2023. Taking into account the 710-day period that followed, the Ethereum network maintained a relentless burn rate, burning an average of over 146,000 ethereum every month.
Ethereum Has Burned 3.46 Million Ether in 710 Days
Nearly two years — precisely 23 months — have zipped by since the enforcement of Ethereum’s London hard fork, marking the implementation of Ethereum Improvement Proposal (EIP) 1559. This significant change has led to the continuous burn of the base fee portion of a transaction fee on the Ethereum network, around the clock, each day.
Current figures reveal a total of over 3.46 million ether has been burned since the London hard fork. Given the prevailing ETH exchange rates, the overall worth of the obliterated ether adds up to $6.68 billion. This equates t
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