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Light up, folks! 69,420 ETH have been burned since The Merge.

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by COINS NEWS 24 Views

Light up, folks! 69,420 ETH have been burned since The Merge.

Ethereum just reached 69420 ETH burned since the merge (Sept 2022) an hour ago.

Chart from

It took 193 days to get this far. At the current rate, Ethereum has been deflationary by 0.1% annually, making it the most successful deflationary cryptocurrency. And it's likely it'll never be inflationary YoY again.

There is even a POAP (Proof of Attendance Protocol) NFT you can mint from the POAP site to commemorate this milestone if you're into that thing:

In total, there have been 3.0M Ether burned since the EIP-1559 update was implemented in Aug 2021 both to burn the base fee of every Ethereum transaction and to reduce transation fees long-term.

Next stop, I'm looking for forward to the Shapella update next month, followed by EIP-4484 Proto-Danksharding.

submitted by /u/FluffayPenguin
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