EIP-1559 was successful launched August 5, 2021, 2:33PM GMT+1, and the burn of Ether with every block has started. For everyone who doesn't know what EIP-1559 is about, I recommend to read my article here on LeoFinance.
At the moment of writing, ~3800 Ether were burned forever. At current market prizes this values 10,534,822.44 USD. The current ETH emission is 7.3 ETH/min and the average burn rate in 24 hours is 2.66 ETH/min. This means instead of 7.3 ETH, "only" 4.64 ETH will enter the circulation. That's about -36.44%. Those numbers can change tremendous with the base fee. Yesterday right after launch, we saw base fees up to ~475 GWei because the target of block size was 200% for some minutes. Hence the burn rate climbed up. At this time the market was very volatile, this will happen and peak times again. At those situation Ether is deflationary!
At watchtheburn.com you can see every important parameter you would want to see. At moment of writing the block size target changes from way under 50% up to 200% sometimes.
Another nice to know information in my eyes is found on ultrasound.money. The unique feature here is address burn counter. The addresses which burned the most get into a leaderboard, quite interesting to see.
The first address seen on the leaderboard for example is the address of the COVIDPunks. The rest should be known. In conclusion you can see the projects on Ethereum with the most traffic in 24h, 7d, 30d or overall which is interesting to know.
In my opinion the EIP-1559 was a success for the ethereum ecosystem and an important step towards ETH 2.0. I like to see Ether being burned.
If you have questions about something feel free to ask in the comments :)
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