The Ethereum network's revenue surged to nearly two year highs this week as the speculative frenzy with meme coins boosted blockchain activity, IntoTheBlock noted in a Friday market report.
, the network's native token, because of its token burning scheme. After Ethereum's transition to a proof-of-stake blockchain – commonly referred to as the Merge –, the network destroys a part of the transaction fees paid by users, decreasing the token's supply.
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