The much-anticipated London hard fork has gone live, and transaction fee burning can now be seen in real time. This is critical for the supply and issuance economics of ETH, which are currently inflationary due to proof-of-work consensus. The network will destroy 3,600 tokens every day at the current burn rate of 2.5 ETH per minute. At current ETH pricing of $2,770, this equates to $10.4 million.