Definition. Burn Rate (Base Fee) is the ongoing pace at which ETH is destroyed by the EIP-1559 base-fee mechanism introduced by the London Hard Fork.

Technical. EIP-1559 established a per-transaction base fee that is sent to a burn address rather than to the block producer, reducing the overall ETH supply at a rate set by blockspace demand and per-block fullness.

Interpretation. Tracks the deflationary pressure on the ETH supply base.