NEWS ZAP Here’s how much ETH has already been burned due | ⚡️ ALTUS.FINANCE ⚡️

NEWS ZAP

Here’s how much ETH has already been burned due to EIP-1559


Ethereum’s London hard fork has gone live and its effects are already underway. The network upgrade included a specific improvement called EIP-1559, which was designed to simplify how transaction fees are paid.

And so far, 213 ETH has already been burned, at a value of $559,000 — according to block explorer Etherchain's burn tracker.

“Don't expect the current burn rate to cont forever,” wrote pseudonymous security researcher Hasu. “Once the mempool has been cleared entirely (which should happen any moment now), blocks will become smaller and basefee will fall again.”