PANews reported on March 24 that according to The Block, the number of ETH destroyed by the Ethereum network due to transaction fees on Saturday fell to 53.07, equivalent to about $106,000, a record low, indicating a significant drop in demand for network block space. The number of active addresses, transaction volume and transactions on the chain have all declined in recent weeks. Ultrasound.money data shows that the annual supply growth rate of ETH is 0.76% based on the past 7 days. In addition, Standard Chartered Bank lowered its ETH price forecast for 2025 from $10,000 to $4,000.