$400 million Ethereum was burned in the EIP-1559 update plan
More than $ 400 million of Ethereum has been burned so far with the implementation of the EIP-1559 network improvement project. By updating the tokens, this update eliminates the transaction fee and leaves nothing to the miners. Almost every 200 Ethereum ($ 643,000) are burned by the EIP-1559 every hour.
It happened at 10 a.m. Sunday (UTC) with the removal of 124865 Ethereum units from the blockchain. The EIP-1559 update plan went into effect on August 5th. The main purpose of this plan is to maintain the stability of volatile transaction fees and to accelerate m