ApeCoin Drops, Ether Trades Flat Despite Record $200M Gas Burn

Users paid over 71,000 ether – nearly $200 million at the time of publication as per CoinGecko – in gas fees trying to purchase land on Otherside. This is by far a record high for the network, surpassing a January peak of over 19,200 ether. The fees were burned, or destroyed permanently, effectively taking some $200 million in liquidity out of the market.