Definition. The total volume of ETH burned each day via the EIP-1559 BASEFEE burn mechanism (blue columns), plotted alongside the Mean Gas Price paid (red) and price (grey).

Technical. The daily burn is the first difference of the cumulative burned supply:

• Daily Burned Supply = diff(Burned Supply, 1)

EIP-1559 activated with the London hard fork on 5 August 2021; since then the BASEFEE portion of every transaction's gas fee is destroyed rather than paid to block producers.

Interpretation. Because the BASEFEE scales with congestion, the daily burn is effectively a direct read on blockspace demand: periods of elevated gas prices and network activity translate into larger daily burns, which is why the two traces on this chart track each other closely. Large burn spikes typically coincide with demand events such as NFT mints, airdrops, or volatile markets driving heavy DEX and liquidation activity. The burn is also the deflationary leg of ETH's post-Merge supply equation — the larger the daily burn relative to Proof-of-Stake issuance, the closer the net supply change moves toward contraction.

Notes. Built from Burned Supply and Mean Gas Price. See also the Value of Supply Burned [USD], Percent of Minted Supply Burned, and the Annual Rate of Supply Issuance, Minting, and Burning.