On Wednesday, more than 5,000 ETH was burned, the highest single-day tally since June, according to Etherscan. More than 13,000 ETH have been burned in the past three days alone. The Ethereum Improvement Proposal (EIP)-1559, implemented in August last year, introduced a mechanism to burn a portion of fees paid by users. The EIP is essentially tied the amount of ether burned with the network usage.
Source: https://www.coindesk.com/markets/2022/11/11/ether-turns-deflationary-as-amount-of-eth-burned-spikes-amid-ftx-induced-market-volatility/?utm_medium=referral&utm_source=rss&utm_campaign=headlines