In fact, the dynamic balance of supply and demand mechanism was disrupted after the merger of Ethereum—— The Dencun upgrade in March 2024 is an important influencing factor, The blob trading mechanism introduced in this upgrade is independent of the main network fee structure, reducing the efficiency of ETH destruction. At the same time, the popularity of Layer 2 solutions and competition from ecosystems such as Solana have further dispersed transaction activities on the Ethereum chain, leading to a slowdown in the growth rate of destruction volume;