750 Million dollars worth of ETH have been burned over the last month

It is now the one month anniversary of the introduction of EIP-1559, which introduced fee burning to the Ethereum Network.

In the past month, 200,000 Ether have been burned for a total value of over 750 Million dollars.

This is absolutely wild, as when all these coins are burned it reduces the circulating supply which drives the price of ETH higher.

This makes me even more bullish on ETH. Once ETH shifts to Proof of Stake if fees stay the same, the amount of ETH being produced will be lower than the amount being burned, therefore ETH will become deflationary and the price will increase.

I hope I gave you enough hopium for the day!