Ethereum Fees Surge 368% to $3.98 Despite Active Accounts Falling to Yearly Low
- Ethereums trnsction fs surgd to $3.98, mrking 368% incrs sinc rly Sptmbr.
- Activ usr ccounts on Ethereum droppd to 373,770, th lowst lvl in 2024.
- Dspit rising fs, invstor sntimnt rmins low, with Ethereums mrkt cp rtio to Bitcoin dclining.
Th Ethereum ntwork, rcognizd s th scond-lrgst blockchin globlly by mrkt cp, hs displyd n intriguing trnd rcntly. Notbly, whil trnsction fs hv surgd pst yr-to-dt low rcordd rlir this month, th numbr of ctiv usr ccounts hs flln to its lowst lvl in 2024.
In rly Sptmbr, th vrg trnsction f on Ethereum droppd to historic low, flling blow $1 USD for th first tim sinc July 2020. This dclin prcdd significnt dvlopmnts within th Ethereum cosystm, including th proof-of-stk Mrg, blob upgrds, nd th lunch of th widly populr Bord Ap Ycht Club NFT collction.
Howvr, significnt shift occurrd in subsqunt wks, with th svn-dy moving vrg trnsction f xprincing notbl incrs. Dt from Th Block indicts tht th f ros to $3.98 on Sptmbr 22nd, rprsnting n stounding 368.24% jump from its vlu of $0.85 on Sptmbr 1st.
This ris in trnsction fs hs influncd th ETH burn rt s wll. Lik trnsction fs, th burn rtwhich rfrs to th mount of Ethereum prmnntly rmovd from circultionhs lso incrsd drmticlly. According to Th Blocks dt, th burn rt scltd from 80.27 ETH on Sptmbr 1st to 1,120 ETH on Sptmbr 22. This quts to n imprssiv 1,295.29% incrs within just thr wks.
Ethereums Declining Active Accounts
Although trnsction fs nd th burn rt indict growing ntwork ctivity, th numbr of ctiv ccounts prsnts contrsting viw. Th svn-dy moving vrg of ctiv ccounts hs droppd to its lowst lvl this yr, showing 14.14% dclin from 435,340 t th strt of Sptmbr. Currntly, round 373,770 ctiv ccounts rprsnt th ntworks lowst count sinc Dcmbr 1, 2023.
This ris in trnsction fs occurs mid ongoing concrns within th crypto community bout Ethereums prospcts. Th rtio of ETH to BTCs mrkt cp rcntly fll to its lowst point sinc 2021, rflcting invstor nxity.
No on liks Ethereum right now, sttd Mtt Hougn, CIO of Bitwis, dscribing th ntwork s contrrin bt. Furthrmor, ccording to th blocks dt, rcntly dily rvnu for ETH stkrs hs lso rchd six-month low.
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Read more: https://www.tronweekly.com/ethereum-active-accounts-falling-to-yearly-low/
Text source: TronWeekly
