Ethereum Daily Burn Soars to Highest Level Since March, Gas Fees Surge
CryptoNewsTerminal Staff06 Aug, 2024
Ethereum Daily Burn Soars to Highest Level Since March, Gas Fees Surge
Ethereum's (ETH) burn rate has surged to its highest level since March 14, with over 5,225 ETH burned in a single day. This significant event was reported by Etherscan, a leading Ethereum explorer, via its official Twitter account. In addition to the increased burn rate, Ethereum gas fees also spiked, reaching 701.7 gwei at block height 20459019. This is a reflection of the increased demand for transactions on the Ethereum network.
