Ethereum chain activity decreases, last Saturday ETH daily burn volume hit a historical low

TechFlow news, on March 24th, according to The Block report, the daily amount of ETH destroyed due to transaction fees on the Ethereum network hit a historical low last Saturday (March 22nd), indicating a significant decrease in market demand for Ethereum block space.

Data shows that only 53.07 ETH (approximately $106,000 at current prices) were destroyed on Saturday, setting an all-time low record. According to Ultrasound.money data, based on the destruction rate over the past seven days, it is estimated that the supply of ETH will increase by 0.76% annually.

The low destruction rate coincides with a decline in other activity indicators for Ethereum. According to The Block data, the seven-day moving average of active addresses recently fell to its lowest level since October 2024. The number of new addresses created and transaction volume have also been declining in recent weeks.