• On Wednesday, 5,783.54 Ether worth $9,615,593 was burned from Ethereum transactions.
• Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.
• The Ethereum blockchain implemented an upgrade known as EIP-1159 on August 5th, 2021, which changed the fee model drastically.
• Each transaction now includes a variable base fee that adjusts according to the current demand for block space, and this base fee is burned, lowering the supply of Ether forever.
• Ethereum is currently issuing new Ether at a rate of 4% per year, but this is expected to decrease to around 0.5-1% as a part of the Ethereum 2.0 upgrade.
• Once this occurs, many speculate that the burn rate of Ether will be greater than the token's issuance, causing ETH to become a deflationary currency.
• The net annualized issuance rate for Ether yesterday was -8.11%.

The article provides informative and neutral information about the burning of Ether and the impact of the EIP-1159 upgrade on the Ethereum blockchain.