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 <li>At the current ETH exchange rate, the total value of the destroyed ether is $6.68 billion.</li> 
 <li>More than 230,000 ether has been burnt in NFT transactions on Opensea.</li> 
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 It’s been almost two years since the London hard fork, which saw the deployment of <a href="https://eips.ethereum.org/EIPS/eip-1559" target="_blank" rel="noopener noreferrer nofollow">EIP 1559</a>. As a result of this major update, the base fee component of a transaction fee on the Ethereum network is being consumed constantly, 24 hours a day. 
 Statistics show that after the London hard fork, more than 3.46 million ether have been burned. At the current ETH exchange rate, the total value of the destroyed ether is $6.68 billion. Since EIP-1559 went into force, this amounts to almost 146,000 ether being destroyed per month, on average. 
 <h3 class="wp-block-heading" id="h-diversified-sources">Diversified Sources&nbsp;</h3> 
 <a href="https://thenewscrypto.com/ethereum-surpasses-2000-mark-bullish-momentum-to-continue/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s</a> deflationary strategy, wherein the total amount of ETH is gradually reduced, was made possible via EIP-1559. The majority of the Ethereum decrease, equivalent to almost 300,000 ETH, may be attributed to regular ETH transfers. More than 230,000 ether has been burnt in NFT transactions on <a href="https://opensea.io/" target="_blank" rel="noopener noreferrer nofollow">Opensea</a>, while about 200,000 ether has been burned by Uniswap v2. 
 More than 150,000 ETH have burned in Tether transactions, while more than 200,000 ETH have been destroyed between <a href="https://thenewscrypto.com/uniswap-price-analysis-uniusdt-identifying-consolidation-and-breakout-potential/" target="_blank" rel="noopener noreferrer nofollow">Uniswap</a> versions 3 and 1. There are around $232.53 billion worth of ETH distributed across 120,201,621 accounts. 
 Since EIP-1559 went into effect, little more than 3 million ether have been created. Since The Merge on September 15, 2022, when the Ethereum network switched from a PoW blockchain to a PoS blockchain, 304 days have passed. 
 The network would have produced 6.5 million ether if the Merge never happened. There are now 120 million ETH in circulation; this number would increase by 9.9 million if the chain stuck to a PoW approach and refused to apply EIP-1559. 
 Highlighted Crypto News Today: 
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More Than 3.46 Million Ethereum Burned Post London Hard Fork

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TheNewsCrypto

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