At some points since the upgrade more Ethereum has been burned in 24 hours periods than minted.
Ethereum hopes the change will make prices less volatile.
Mr Evans said: “Unlike bitcoin, eth has no limit on how many will be made, so code changes like this are needed to create boundaries and limit supply growth.”
“With new positive policies like EIP-1559, many market analysts predict that we will likely see the continued price increases in eth as we have seen in the last few weeks.”
“While fluctuations are always present, the trend is very bullish as we continue to see positive inflows.”