On-chain activity continues to decline, with Ethereum's daily burn rate hitting an all-time low.

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According to ChainCatcher news and a report from The Block, the amount of ETH destroyed due to transaction fees on the Ethereum network dropped to 53.07 on Saturday, equivalent to approximately $106,000, marking a historical low and indicating a significant decline in demand for network block space. The number of active on-chain addresses, volume, and transaction counts have declined in sync over the past few weeks. Ultrasound.money data shows that the annual supply growth rate of ETH over the past 7 days is 0.76%. In addition, Standard Chartered has lowered its 2025 ETH price expectation from $10,000 to $4,000.

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