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Market News Ethereum network daily ETH destruction hit a record low last Saturday

Ethereum network daily ETH destruction hit a record low last Saturday

According to the latest data, Ethereum hit a record low in daily destruction on Saturday.

2025-03-24

10834

Ethereum

On March 24, according to data from The Block, the Ethereum network destroyed only 53.07 ETH in a single day on Saturday, which is worth about US$106,000 at the current price, setting a new historical low, indicating that the demand for Ethereum block space has decreased significantly.

Ethereum’s EIP-1559 change simplifies the transaction fee process while requiring the network to destroy all ETH used to pay basic transaction fees. The mechanism is designed to reduce inflationary pressures and could make Ethereum a deflationary asset during periods of peak network activity.

Additionally, the seven-day moving average of active addresses recently fell to its lowest value since October 2024. The number of new addresses created, the number of transactions, and daily transaction volume have also declined in recent weeks.