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In the past three weeks, Ethereum network fees and the number of ETH burned have soared, but the number of active accounts on the network has dropped to its lowest point this year

In the past three weeks, Ethereum network fees and the number of ETH burned have soared, but the number of active accounts on the network has dropped to its lowest point this year

Bitget2024/09/23 00:15
ETH+0.41%

Data shows that in the past 3 weeks, Ethereum's transaction fees (7-day moving average) have soared. The data indicates that its latest fee (September 2021) is $3.52, more than three times the $0.85 fee on September 1st.

The resurgence of transaction fees has also increased Ethereum's burn rate, with the number of Ether burned soaring from 80.27 ETH on September 1 to 1360 ETH on September 21, an increase of 1600% in just three weeks.

However, despite the surge in transaction fees and burning volume, network active accounts (7-day moving average) have dropped significantly to their lowest level so far this year, down by 11% from earlier this month. Currently around 385000 active accounts are at their lowest since December 1st ,2023.

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.
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