Since the activation of EIP-1559 on August 5, 2021, over 4.5 million ETH have been burned on the Ethereum network, valued at more than $15.3 billion. The burning mechanism, which removes a portion of transaction fees from circulation, has seen significant contributions from platforms like Opensea and Uniswap. Despite this, Ethereum's inflation rate remains at 0.820%, with over 3.2 million ETH added to circulation since the London fork.