On-chain activity continues to decline, with Ethereum's daily burn rate hitting a record low

According to ChainCatcher, The Block reported that the amount of ETH burned due to transaction fees on the Ethereum network dropped to 53.07 on Saturday, approximately $106,000, marking a historic low and indicating a significant decrease in demand for network block space. On-chain active addresses, transaction volume, and transaction counts have all declined in recent weeks.

Data from Ultrasound.money shows that the annual supply growth rate of ETH over the past 7 days is 0.76%. Additionally, Standard Chartered has lowered its 2025 ETH price forecast from $10,000 to $4,000.