Summary
- It was reported that Ethereum's daily burn rate hit an all-time low of 53.07ETH.
- The decrease in burn rate was analyzed to be due to a reduction in fee payments on the network.
- Meanwhile, it was stated that Ethereum's price is trading at $1992, slightly up from the previous day.
The burn rate of Ethereum (ETH) has hit an all-time low. This is explained by a significant decrease in fee payments on the network.
According to The Block, a cryptocurrency-focused media outlet, the Ethereum token burn rate on the Ethereum network last Saturday was 53.07ETH. This is the lowest daily burn rate ever recorded.
The reason for the decrease in the Ethereum token burn rate is the reduction in fee payments on the Ethereum network. The Block explained, "The low burn rate corresponds with a significant decrease in Ethereum network activities such as active addresses."
Meanwhile, as of 6:50 AM on the 24th (KST), it is trading at $1992 on CoinMarketCap, up 0.20% from the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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