$ETH Ether Inflates After Gas Fees Plummet

Ether's supply is inflating despite Ethereum throughput remaining high

The circulating supply of Ether has inflated to its highest level since March 14 after a sustained run of low gas fees.

According to Ultra Sound Money, 15,230 Ether ($47.8 million) were added to Ethereum’s supply since April 14, with 12,078,565.7 ETH now in circulation.

The sharp increase in Ether’s supply is the result of a persistently low burn rate over the past two weeks amid frequent spates of single-digit transaction fees. Weekly inflation currently equates to 0.425% annually.

Gas fees currently sit at just 8 gwei, up from a meager 5 gwei earlier today. Data from Ycharts shows users paying $1.25 for simple transactions, up from a four-month low of $0.63 on April 21.

The recent inflation comes after a five-month period of steady deflation for Ethereum, with its supply shrinking by 204,350.5 ETH ($641.6 million) from Oct. 30 to an all-time low of 120,063,127 on April 4.