🚀🌕 Buckle up, BTC enthusiasts! Ethereum's status as ultrasound money is looking shaky as its supply keeps skyrocketing! 📈 Since mid-April 2024, a month after the Dencun upgrade, over 112,000 ETH has been added to the market at the fastest daily rate post-Merge.

🔧🔩 The Dencun upgrade introduced nine Ethereum Improvement Proposals (EIPs), including EIP-4844, implementing proto-danksharding, a mechanism allowing for data blobs. This made it possible for layer-2 solutions to submit transaction data to Ethereum for collective settlement within a dedicated blobspace without extra costs.

🔥💸 However, since Dencun, Ethereum's transaction fees have been low, meaning less ETH has been burned. On-chain analysts believe Ethereum is no longer deflationary, as the new ETH supply has turned positive. The amount of fees burned on Ethereum is no longer positively correlated with higher network activity.

💰💹 Despite this, the total supply of ETH since the Merge has plunged significantly, with an overall reduction of 345,000 ETH. Around 1.36 billion ETH has been issued, but more than that has been burned.

😱📉 With Ethereum's inflationary rate increasing post-Dencun, the purchasing power of ETH is reducing, which may negatively impact investors. At the time of writing, ETH was worth $3,374, down 4.8% in the past week in correlation with the drawdown in the crypto market. Keep your eyes on the crypto space, folks! 🚀🌕