This metric represents the cumulative sum of ETH incinerated since the implementation of the London Hard Fork, which introduced EIP-1559. The Ethereum Improvement Proposal (EIP-1559) established a base fee for transactions, which is burned to reduce the overall ETH supply. As a result, this metric indicates the deflationary pressure on Ethereum.

This is the Point-in-Time (PiT) variant of Burned Supply. 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.