According to Ethburned.info, over $400 million worth of ETH has now been burned by Ethereum Improvement Proposal (EIP) 1559, an upgrade to the Ethereum network that destroys transaction fees instead of handing them to miners. At the time of writing, the network now destroys about 300 ETH per hour.
The network attained the notable height at about 10 AM UTC on Sunday, after removing a total of 124,865 ETH from circulation. At the time of writing according to Ethburned.info, a total of 133,672.66 ETH has been burned by the Ethereum blockchain, while 341.31 ETH has been destroyed in the last hour.
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