November Recap - 23 Charts

The Ethereum network is essentially unusable right now for lower-income users, as the average Ethereum transaction fee has been above $40 since the start of November. Compared to the single-digit fees in June and July, this surge has priced many users out of interacting with the network.

In addition to fees, another result of high demand on Ethereum is ETH burnt from the activation of EIP-1559. The cumulative number of ETH burnt following EIP-1559 exceeded 1 million on November 24th. At the time of writing, 1,151,130 ETH have burned, a $4.47 billion value with the current price of ETH.