In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether (ETH) 价值 $4.24 billion had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing a burn feature that takes a portion of transaction fees on the blockchain out of circulation, to be canceled permanently.

Notable decentralized applications responsible for token burn contributions include popular nonfungible tokens, 或NFT, platform and play-to-earn NFTs game Axie Infinity. 下一个, transaction volume from decentralized exchanges such as Uniswap, 1英寸, and Sushiswap made up a large portion of ETH burns. ETH is also burned from transfers from stablecoins like Tether (USDT) 和美元硬币 (美国农业部) built on the Ethereum blockchain. 最后, wallet users in MetaMask and those making regular ETH transactions also contributed to most of network activity.

According to data from Ultra Sound Money, 7.67 ETH is burned every minute, 直到 11,042 ETH is burned each day. At current rates, 大约 4 million ETH is burned every year. 然而, the blockchain currently emits about 5.4 每年百万 ETH. 因此, the Ethereum network is still inflationary on a net basis.

That’s all about to change next year as the Ethereum 2.0 upgrade goes live sometime next year, transitioning the network from a proof-of-work consensus to that of proof-of-stake, where staking rewards will be far lower than mining rewards. 结果是, it would lower the blockchain’s emission rate far below its burn rate, thereby creating a deflationary ecosystem. Ultra Sound Money projects the peak supply of ETH will hit 119.7 million in early 2022 before going on the decline.