Within the past hour, Ethereum has reached $1,009,611,581.03 worth of coins burnt. This is approximately 295329 (another milestone coming up). At the moment, ETH’s market cap is equal to $400 Billion, meaning that a value equivalent to 1/400th of the market cap has been burnt. This is an incredible achievement for Ethereum. Depending on the price of ETH, this $ number could decrease back under 1 Billion, or even rise higher.
The London Fork, which introduced the burn, was released under 6 weeks ago. If traffic continues as it does and gas fees continue to climb, I wouldn’t be surprised if within a month another $1 Billion is burnt. Bullish.