How Resilient Are the Bears as Ethereum (ETH) Continues to Plummet by 19%?

In addition to the token price, there are other important aspects of the network that need to be addressed. According to the available data, the amount of ETH that has been issued still surpasses the amount of ETH that has been burned. Since the option to burn ETH was introduced in August 2021, a total of 7.18 million ETH have been issued, while only 4.28 million ETH have been burned. This suggests that users’ activity in transacting on the network has slowed down. Conversely, the average gas fees on the network during this period have been consistently measured at 40.9 gwei.