The mint of a project called XEN Crypto and its token (XEN) attracted the participation of more than 364,114 wallet addresses and triggered a surge in Ethereum network gas fees for 2 consecutive days, reaching 200wei at one point on October 9. According to Ultrasound data, the ETH burned during the minting process reached 2,271 on October 10, accounting for 19.46% of the total burning of the Ethereum network on October 7. The Ethereum network has entered its most extended period of token deflation since “the Merge.” However, even with this the price of Ethereum continues to remain unmoved… why?

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#ethereum #crypto #bitcoin
~Ethereum Massive Burn Begins | Gas Fee Surge Causes Deflationary ETH~
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