TechFlow news, on November 12, according to on-chain analyst @ai_9684xtpa, Ethereum's price broke through $3,300, ending a two-month consolidation period. On-chain data shows that ETH has been in an inflationary state since mid-April this year, with a net issuance of approximately 350,000 ETH over the past six months. Data indicates that ETH burning peaked in March this year and has shown a declining trend since then. Although the Memecoin surge in early August brought a brief rebound, the burn rate quickly dropped afterward.
In contrast, TRON achieved a record-high daily protocol revenue of $3.88 million in August, with a single-day TRX burn reaching 34.67 million tokens. Currently, the amount of USDT issued on the TRON network has surpassed that on Ethereum, reaching 61.8 billion. ETH burns primarily stem from base fees under the EIP-1559 protocol, while TRX burns result from users acquiring energy, bandwidth consumption, and transaction fees. The recent ETH price breakout is mainly driven by ETF expectations and the ReStaking narrative.
