Ethereum's circulating supply rose by 7,728 ETH tokens, potentially capping its price below $3,000. A decline in network activity and user interaction on Ethereum has reduced its demand, bringing down network fees by 43% and contributing to a 3% price drop. Increased activity could boost the price.
Ethereum's net supply has increased by 15,481 ETH in the past week, as reported by Ultrasound.money and COINOTAG.
Ethereum's circulating supply has reached a 2024 peak, raising inflation concerns. Increased supply has been driven by a decline in user activity and burn rate. ETH price has dropped 15% over the past 30 days but recently stabilized with a flat RSI, indicating market indecision.
Ethereum's supply has increased by 210,000 ETH due to its inflationary nature, creating concerns about potential downward price pressure. Recent data indicates a circulation of 120.28 million ETH with an annual inflation rate of 0.70%, outpacing the rate of token burns introduced in the London Hard Fork.
The Dencun hard fork on Ethereum has reduced transaction fees but also turned ETH back into an inflationary currency, slowing down ETH supply burn rate.
