TL;DR Breakdown: The number of ETH burned exceeded the total coins issued yesterday.This is the first time Ethereum produced a negative issuance in a full day. The third of September 2021 marks the first full day Ethereum blockchain turned deflationary amid the EIP-1559, which was deployed about 30 days ago. By being deflationary yesterday, it means that the number of ETH burned was greater than the total coins issued through block rewards. Over $54 million ETH burned A total of 13,838 ETH were burned yesterday, which is equivalent to $54 million in accordance with ETH price at $3,906 during the time of writing. This number of ETH burned is over 2 percent higher than the total coins issued in block rewards throughout the last 24 hours. 13,838.3717 $ETH burned yesterday.Issuance: 13,485.5000 ETHNet Change: -352.8717 ETHAnnualized: -0.11% 2021-09-03 00:00-24:00 UTCLast Block: 13155888Cumulative : 188,644.5521 ETH— ETH Burn Bot (@ethburnbot) September 4, 2021 Technically speaking, Ethereum recorded a negative daily ETH issuance on September 3, which has been termed as its “first deflationary day.” Ethereum's first ever deflationary day pic.twitter.com/fK4ZSCDS97— Documenting Ethereum (@DocumentEther) September 4, 2021 Token burning is a mechanism used to deflate the supply of the cryptocurrency. By burning tokens, they are moved to a wallet that isn’t or won’t be controlle...
