$48,800,000 in Ethereum has now burned as second-largest crypto asset becomes deflationary
The second-largest cryptocurrency by market cap has been a deflationary asset since mid-January, thanks to a recent upgrade known as EIP-1559.
Since the upgrade, each time an ETH transaction is sent, a percentage of the transaction fee is permanently removed from Ethereum’s circulating supply. In total, 28,730 ETH worth $48,885,818 has burned since the merge, which was 157 days ago.