Ethereum network daily ETH destruction hit a record low last Saturday

Odaily News Last Saturday, the Ethereum network destroyed only 53.07 ETH in a single day, which is worth about $106,000 at current prices, setting a new record low, indicating that the demand for Ethereum block space has decreased significantly.
Ethereum’s EIP-1559 change simplifies the transaction fee process while requiring the network to destroy all ETH used to pay basic transaction fees. This mechanism is designed to reduce inflationary pressure and may make Ethereum a deflationary asset during peak network activity.
Additionally, the seven-day moving average of active addresses recently fell to its lowest value since October 2024. The number of new address creations, the number of transactions, and daily transaction volume have also declined in recent weeks. (The Block)