The ETH burn rate has reached a low for the year, with the daily burn volume once dropping to 210 ETH
The daily amount of ETH being burned on the Ethereum network has dropped to a low for the year. As of press time, the base fee for this network is hovering between 1 and 2 gwei, hitting a multi-year low, which in turn affects the issuance of ETH. Due to lower gas fees, only 210 ETH were burned last Saturday. In contrast, on August 5th when gas fees reached about 100 gwei, the daily burn rate soared to 5000 ETH.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Applied Digital to raise $2.35 billions through senior secured notes issuance
Gold futures and spot prices plunge, New York gold futures drop 3%
Hawkish comments from the Federal Reserve dampen rate cut expectations, causing a major blow to global markets
American Bitcoin: Bitcoin Holdings Increase to 4,090, with 563 BTC Mined in Q3
Trending news
MoreCrypto prices
More
