The Ethereum London upgrade was successfully completed on the evening of August 5, 2021.
Due to the implementation of EIP-1559, the change of network fee structure and the addition of token destruction mechanism led many people to expect that the market circulation of Ether coins would therefore decrease, bringing gains for Ether coins.
Until recently, the implementation of EIP-1559 has been 365 days. One year ago today, the ether coin was at the level of $2800. Before the deadline, the current ether coin was at the level of 1700.
ultrasound.money, which collates ether deflation data, takes a look at how the data perform over 365 days.
According to ultrasond.Money, approximately 2.6 million ether coins were burned over 365 days and 5.5 million ether coins were issued based on the PoW consensus, bringing a 2.4% annual increase in the total amount of ether coins in circulation.
Over 365 days, 4.89 Ether coins were burned per minute, offset by 0.47x issuance.
In different types of transactions, NFT activities destroyed more ether than DeFi activities, which also shows the prosperity of NFT and the decline of DeFi in the past year, followed by arbitrage activities MEV, and other activities.
As a whole, the transfer of Ether coins caused the largest amount of burn, followed by OpenSea, the largest NFT market for Ethereum, and Uniswap, the DeFi currency exchange protocol, caused almost half as much burn.
The top three most burned blocks on record were all three months ago, in May.
The first, block #14688922, burned 220 ETH.