Everyone talks about the amount of ETH burned, but no one talks about the rate of ETH burned. $236M ETH has been depleted from the supply in just 17 days - 75161.4 ETH. Do you know how much that affects the price?
Mcap = circulating supply * price
We know that the total supply is 117,213,955.03 ETH at the time of writing, with an MCap of $371,788,599,683, so it is worth $3,171.88.
If not for EIP-1559, there would be 117289116 ETH, and ETH would be worth $3169.85.
Now 2$ at first that's doesn't seem like a lot. But this is only assuming ALL THE ETH hasn't been lost. Factor in lost ETH from boating accidents, mistyped addresses... adjusted price would be way lower without EIP 1559.
It's incredible how this burn mechanic in a short amount of time can do this. Imagine how much more valuable it'd be from it racks up years from now. A subtle difference.
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