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Ethereum: 1 million ETH now burned, but here’s why the Merge cannot wait
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Earlier today, the Ethereum network managed to successfully burn 1 million ETH, worth over $4 billion at the time of writing. This milestone was achieved over three months after the London hard fork (EIP-1559) was successfully activated back in early August.
Source: Watch the Burn
Thanks to EIP-1559, the base fee is burned during each transaction to steadily decrease Ether’s circulating supply. Since the aforementioned hard fork, the daily ETH burn rate has been steadily increasing, with a current
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