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More than 1 million ETH has been burned following EIP-1559

advertisement The Ethereum network has now burned over 1 million ETH since the London upgrade that ushered in the fee burning mechanism, according to figures from WatchTheBurn — a website that tracks the transaction fee burning process. At the current price of ether, the total value of the total ETH destroyed so far now stands at over $4.2 billion. In August, the London upgrade introduced Ethereum Improvement Proposal 1559 (EIP-1559) that split transaction fees in two: a base cost and …