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Over 4,000 ETH burned hours after EIP-1559 upgrade Over 4,000 ETH burned hours after EIP-1559 upgrade

Over 4,000 ETH burned hours after EIP-1559 upgrade

The Ethereum network underwent one of its most crucial upgrades last night. And things are going as planned so far.

Over 4,000 ETH burned hours after EIP-1559 upgrade

Cover art/illustration via CryptoSlate

Over 4000 ETH have been ‘burned’ just hours after the ambitious EIP-1559 upgrade was rolled out on the Ethereum network, data from multiple sources shows.

The burned stash is worth over $11 million at press time, representing a tiny portion of the asset’s $325 billion market cap.

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