Daily Ethereum Destruction Drops to Annual Low on Ethereum Network
Publication Time:2024-08-12 12:31:06
According to Golden Finance's report, the daily amount of ETH being destroyed on the Ethereum network has fallen to its lowest level this year, which is related to a weakening demand for Ethereum in the market. Currently, the base fees on the Ethereum network remain between 1 and 2 gwei, setting a record low for years, which also leads to a certain impact on the issuance of ETH. Under such circumstances, the single-day destruction volume last Saturday was only 210 ETH, compared with the high point on August 5th, when the daily destruction volume reached 5,000 ETH, and the Gas fee at that time was approximately 100 gwei.
Ethereum
Gas fees
Market Demand
Destroyed ETH
Base fees