Due to the decrease in Ethereum network gas fees, ETH destruction has dropped to the lowest point of the year

The daily ETH destruction on the Ethereum network has dropped to a year-to-date low, mainly due to the recent drop in average gas fees. Currently, gas fees hover between 5 and 10 gwei. The drop in network fees has led to a decrease in the amount of ETH destroyed. Last Sunday, Ethereum destroyed only 610 ETH, a new low so far this year. In contrast, daily ETH destruction remained above 2,500-3,000 ETH in the first four months of this year. (The Block)