The daily amount of ETH destroyed on the Ethereum network has fallen to its lowest level this year, mainly due to the recent drop in gas. Currently, gas fees are hovering between 5 and 10 gwei, which is one of the lowest levels so far this year.
The decrease in network fees has led to a decrease in the amount of ETH destroyed. On Sunday, the amount of ETH destroyed was only 610 ETH, setting a new low for the year. In contrast, the daily amount of ETH destroyed in the first four months of this year remained above 2,500-3,000 ETH.
Ethereum's Low Gas Fee Causes ETH Burn Rate to Drop to Annual Lowest
2024-05-06 09:42:34
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