This metric represents the ongoing pace at which ETH is being burned, following the introduction of the London Hard Fork and the implementation of EIP-1559. The Ethereum Improvement Proposal (EIP-1559) established a base fee for each transaction, which is subsequently incinerated, reducing the overall ETH supply. By tracking the ETH burn rate, users can gain insights into the deflationary pressure on Ethereum and its potential impact on the network's long-term economic dynamics.

This is the Point-in-Time (PiT) variant of Burn Rate (Base Fee). PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.