Golden Finance reports that data shows (as of this weekend) that since the activation of the London hard fork on August 5, 2021, the Ethereum network has destroyed more than 4.5 million ETH, worth more than $15.3 billion at current prices. EIP-1559 included in this upgrade opens a mechanism to destroy part of the transaction fees, thereby effectively reducing the supply of ETH in circulation. Although approximately 4.5 million ETH have been burned to date, ultrasound.money data suggests that Ethereum has not become deflationary as some industry figures predicted. Currently, the network’s inflation rate has increased slightly to 0.820%, with an additional 3,245,017.99 ETH entering circulation since the London fork.