Ethereum network fees and ETH destruction have surged in the past three weeks, while the number of active accounts has fallen to a year-low

Ethereum transaction fees (7-day moving average) have soared over the past three weeks. Data shows that on September 21, its fees were $3.52, more than three times the $0.85 on September 1.

The recovery in transaction fees also increased Ethereum’s destruction rate, with destruction increasing from 80.27 ETH on September 1 to 1,360 ETH on September 21, a 1,600% increase in three weeks.

Despite the surge in transaction fees and burns, Ethereum network active accounts (7-day moving average) have fallen sharply to their lowest value so far this year, down 11% from the beginning of the month. The network currently has about 385,000 active accounts, the lowest since December 1, 2023. (The Block) #zachxbt