EIP-1559 was a proposed Ethereum blockchain coding modification that would allow block sizes to be increased. The goal of the plan was to slow down the growth of the ETH supply. However, over the last 24 hours, the supply has shrunk rather than grown. According to tracking website Ultrasound Money, almost 188,000 ETH ($736 million) has been burned since a code modification to the code underpinning the EIP-1559 coin was made on August 5.