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Ethereum Supply Diminishes to a Record Low Amid ETH Breaking the Record at $4,400
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blockchain.newsCryptocurrencies have enjoyed a rollercoaster ride this quarter as they continue smashing records. Just over a week after Bitcoin hit an all-time high (ATH) of $66,900, Ethereum has followed its footsteps by breakingthe record at the $4,400 level.
On the other hand, SHIB, a Dogecoin-inspired meme cryptocurrency, recently scaledthe heights with a 46% increase in just a couple of days.
Therefore, it shows it is the crypto season as coins continue showcasing their potential.
Ethereum’s record-breaking surge is being attributed to diminished supply and high token circulation. Lucas Outumuro, the head of research at IntoTheBlock, explained:
“ETH price is breaking new highs while a record amount of 16.9K ETH was burnt in the past 24 hours.
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