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ETH Network burned 210 ETH on August 10, hitting a new low for the year.
BlockBeats news, on August 12th, according to TheBlock, the daily ETH burning on the Ethereum network has dropped to its lowest level this year. The base fee is currently fluctuating between 1 and 2 gwei, which is one of the lowest levels observed in recent years. Only 210 ETH were burned on Saturday, setting a new low for the year, but the net issuance of ETH exceeded 2,000 on that day, showing an inflation trend for Ethereum. In contrast, on August 5th, the burning amount reached 5,000 ETH, with gas fees at about 100 gwei. Gnosis founder Martin Köppelmann pointed out that the base fee is at its lowest point in years, at around 0.8 GWEI, while offsetting stake rewards require 23.9 GWEI.