TechFlow reported on March 24 that, according to The Block, the daily amount of ETH burned due to transaction fees on the Ethereum network hit a record low last Saturday (March 22), indicating a significant decline in market demand for Ethereum block space.
Data showed that only 53.07 ETH (worth approximately $106,000 at current prices) was burned on Saturday, marking the lowest level ever recorded. Based on the past seven days' burn rate, Ultrasound.money data suggests that the ETH supply is now projected to grow by 0.76% annually.
The low burn rate aligns with declines in other Ethereum activity metrics. According to The Block's data, the seven-day moving average of active addresses has recently dropped to its lowest level since October 2024. In recent weeks, new address creations, transaction counts, and daily trading volume have also shown downward trends.
