Odaily Planet Daily News Data shows (as of this weekend), since the activation of the London hard fork on August 5, 2021, the Ethereum network has destroyed over 4.5 million ETH, worth over $15.3 billion at current prices. The upgrade included EIP-1559, which introduced a mechanism to burn a portion of transaction fees, effectively reducing the supply of ETH in circulation. Although approximately 4.5 million ETH has been destroyed so far, data from ultrasound.money indicates that Ethereum has not become deflationary as some industry insiders predicted. Currently, the network's inflation rate has slightly increased to 0.820%, with an additional 3,245,017.99 ETH entering circulation since the London fork.