Ethereum's EIP-1559 Keeps Burning ETH Like Crazy

Blockchain data tells quite a story. Since EIP-1559 kicked in, a whopping 6.8 million ETH has gone up in flames. Gone forever. That’s over $21 billion vanished at current prices. Wild.

On-chain transfers? They’re eating up about 9.2% of all burned ETH. Significant.

NFT markets are burning through ether too. Around 6.3% of all burns come from people trading digital art and collectibles. The stablecoin world isn’t innocent either - more than 310,000 ETH burned from those transactions alone. That’s roughly 4.6% of everything that’s disappeared.

EIP-1559 seems to have worked wonders for users. Gas fees dropped by something like 95% in 2025. Pretty remarkable. Transactions feel more predictable now. Less chaotic. Network congestion isn’t the nightmare it once was.

Ethereum inflation? Sitting at just 0.65%. Tiny. The burn mechanism is clearly doing something right.

Since the hard fork happened, ETH supply grew by about 4.1 million tokens. Not entirely clear if that was expected, but the burn mechanism is kind of keeping things in check despite all those block rewards still being handed out.

ETH1.92%
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