The landmark showed that Ethereum's decision to implements proposal under the London Hard Fork has been slow and steady.
And this demand for ETH causes a rise in gas prices. So, theOn looking at the network growth, the on-chain data provider revealed that the metric had decreased sharply. Typically, network growth measures the rate of adoption and influx of new users into a network.
So, when the network growth increases, it means that a project has impressive traction. However, when the metric decreases, it implies that utilization is low. And this is usually accompanied by low liquidity.In conclusion, Ethereum’s burn mechanism has relatively addressed the network’s concerns around transaction fees.
Also, the substantial amount of ETH burned also demonstrates the demand and usage of the Ethereum network, as well as the effectiveness of creating a more deflationary ecosystem. Whether it will improve or not, time will tell.
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