Since the deployment of Ethereum Improvement Proposal (EIP) 1559 via the London hard fork on August 5, about $4.5 billion worth of the second-largest cryptocurrency by market capitalization, Ethereum ($ETH), has been burned. According to data from the tracking website Watch the Burn, 1.747 million ether worth $4.58 billion has been burned since August, averaging 307 ETH worth $800,000 per hour and 12,300 ETH worth $32 million per day.