Ethereum reaches one million ETH burned thanks to EIP-1559

After 111 days of the London difficult fork to help EIP-1559, Ethereum has exceeded one million ETH burned, worth up to $4.28 billion.

EIP-1559 is an update to impose a BASE Charge mechanism for Ethereum transaction charges. This mechanism prevents charges from all of a sudden skyrocketing, affecting consumer utilization. Additionally, some of the transaction charges will be burned to build deflationary stress.