London upgrade and EIP-1559
A new fee system starts burning part of every transaction fee.
$2,829
Source: Coinbase Exchange ETH/USD daily close, 2021-08-05
The London upgrade activated at block 12,965,000 on August 5, 2021. Its best known change, EIP-1559, split fees into a base fee that is burned (destroyed) and an optional tip for validators. Fees became more predictable, and burning means ether supply can shrink when the network is busy.
Since then, millions of ETH have been burned, which you can track on explorers that report burn totals.
Source: Coinbase Exchange ETH/USD daily closes 2016-05-18 to 2026-10-14. Fetched Oct 14, 2026 from free public APIs. Click a dot for the event and its price on that day.
Related
Part of Ethereum in 2021 · full Ethereum timeline · Ethereum hub
Updated
Sources
Facts written in our own words. Last checked Oct 14, 2026.