More than $144 million worth of ether has been burned since an overhaul of the fee system on the ethereum network went live on August 5.
As of Sunday, over 45,799 ether had been burned, according to tracking website Watch the Burn, at a rate of around 3.15 tokens per minute. The total amount burned was worth over $144 million at Sunday’s price of $3,163.
The ethereum upgrade, codenamed EIP-1559, came into force on August 5 and significantly changed how fees work on the network. More than $144 million of ether has been burned since major network upgrades hit ethereum last week | Markets Insider (businessinsider.com)