Ethereum Burns 144K ETH Amid Memecoin Frenzy

05/30 16:15

The recent memecoin frenzy has had a positive impact on Ethereum, as the resulting spike in gas fees has reduced the altcoin's supply. The Ethereum network has burned nearly 144,000 ETH over the past 30 days, which has helped remove tokens from the active supply and could potentially spike the asset's price.

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