• ETH circulating supply rose by massive 16,411.40 tokens in the past 7 days.

• 18,175.27 ETH were issued while the ETH burned amounted to 1,764.05 ETH.

• Ether briefly reclaimed the $2,400 price level in the past 24 hours.

Read also: ETH Price Stalls as ETF Inflows Stay Weak

Ether (ETH), the second-largest cryptocurrency, has experienced a notable increase in its circulating supply recently, which could potentially influence its price based on the principle of supply and demand.

Data from ultrasound.money reveals a substantial addition of 16,411.40 tokens to Ethereum’s circulating supply over the past week. On August 25th, the supply of ETH was 120,308,385, rising to 120,324,796 by September 5th. The data also indicated around 92,000 ETH burned annually.

It is important to note that the total ETH tokens issued in the past week amounted to 18,175.27 ETH, while the total ETH burned reached 1,764.05 ETH. The website recorded a growth percentage of 0.71%, with 984,000 ETH issued yearly.

Ether Price Analysis

According to the data from CoinMarketCap, Ether briefly reclaimed the $2,400 price level in the past 24 hours and is up 0.52%, trading at a price tag o…

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