Since the activation of EIP-1559 on Ethereum, a whopping 4.5 million ETH has been destroyed, totaling a value of $15.3 billion. This burn bonfire has had a significant impact on the Ethereum ecosystem, with many investors closely monitoring the situation. The burning of ETH is a key feature of EIP-1559, designed to manage the network’s transaction fees more efficiently. This development has garnered attention from the crypto community and is expected to continue shaping the future of Ethereum.