{"id":53490,"date":"2021-11-24T18:25:04","date_gmt":"2021-11-24T16:25:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53490"},"modified":"2025-09-03T15:21:37","modified_gmt":"2025-09-03T12:21:37","slug":"since-the-activation-of-the-london-upgrade-ethereum-has-burned-1-million-eth","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/since-the-activation-of-the-london-upgrade-ethereum-has-burned-1-million-eth\/","title":{"rendered":"Since the activation of the London upgrade, Ethereum has burned 1 million ETH"},"content":{"rendered":"<p>In the 109 days since the activation of <a href=\"https:\/\/u1f987.com\/en\/news\/welcome-to-london-how-ethereum-withstood-another-hard-fork\">the London upgrade<\/a> on the Ethereum network, the protocol has burned more than 1 million ETH. Their value at the time of writing was $4.2 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Ethereum burned 1M ETH in 109 days<\/p>\n<p>\ud83d\udd25 <a href=\"https:\/\/t.co\/CuLBNKjMwG\">https:\/\/t.co\/CuLBNKjMwG<\/a> \ud83d\udd25 <a href=\"https:\/\/t.co\/BetEbJT7jh\">pic.twitter.com\/BetEbJT7jh<\/a><\/p>\n<p>\u2014 ultra sound money \ud83e\udd87\ud83d\udd0a (@ultrasoundmoney) <a href=\"https:\/\/twitter.com\/ultrasoundmoney\/status\/1463494305381822464?ref_src=twsrc%5Etfw\">November 24, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Thanks to<a href=\"https:\/\/eips.ethereum.org\/EIPS\/eip-1559\"> EIP-1559<\/a> issuance declined by 39%. Network inflation slowed to 1.8% per year.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"821\" height=\"388\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-591.png\" alt=\"Since the London activation, the Ethereum protocol has burned 1 million ETH\" class=\"wp-image-156914\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-591.png 821w, https:\/\/u1f987.com\/wp-content\/uploads\/1-591-300x142.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-591-768x363.png 768w\" sizes=\"auto, (max-width: 821px) 100vw, 821px\" \/><figcaption>Data: <a href=\"https:\/\/ultrasound.money\/\">ultrasound.money<\/a><\/figcaption><\/figure>\n<\/div>\n<p>Earlier, the CEO of Singapore-based venture fund Three Arrows Capital, Su Zhu <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-chief-criticises-ethereum-and-calls-the-cryptocurrency-an-anti-utopia\">criticized<\/a> Ethereum for high fees that prevent newcomers from using this blockchain.<\/p>\n<p>Earlier, experts <a href=\"https:\/\/u1f987.com\/en\/news\/expert-ethereum-miners-revenues-to-fall-20-30-after-london-hard-fork\">predicted<\/a> that activation of EIP-1559 would lead to Ethereum miners&#8217; revenues falling by 20-30%. In October, the latter received <a href=\"https:\/\/u1f987.com\/en\/news\/october-2021-in-numbers-record-bitcoin-etf-debut-meme-token-rally-and-2-9b-for-ethereum-miners\">record $1.34 billion in transaction fees<\/a> (46.2% of total revenue).<\/p>\n<p>Follow ForkLog&#8217;s news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the 109 days since the activation of the London upgrade on the Ethereum network, the protocol burned more than 1 million ETH. Their value at the time of writing was $4.2 billion.<\/p>\n","protected":false},"author":1,"featured_media":53491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,46,1258],"class_list":["post-53490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-ethereum","tag-tokenomics"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53490"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53490\/revisions"}],"predecessor-version":[{"id":53492,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53490\/revisions\/53492"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53491"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}