Following the Dencun Upgrade, Ethereum's network is no longer deflationary, with an increase in ETH supply since mid-April. The upgrade, aimed at reducing transaction fees, has inadvertently led to Ethereum's longest inflationary period since transitioning to Proof-of-Stake. Over 112,000 ETH have been added to the supply, counteracting deflationary effects. The EIP-4844 model, part of the upgrade, aimed to establish Ethereum as 'ultra-sound money' but has slowed the burn rate. With an inflation rate of 0.59% per year, Ethereum is issuing more units than burning, contradicting its previous deflationary narrative. Despite this, the network is experiencing significant scaling activity, benefiting Layer 2 networks. Staked Ethereum is at a peak, with expectations for spot Ethereum ETFs. VanEck's filing for a Spot Ether ETF suggests a potential launch soon, following positive comments from the US SEC. Read more AI-generated news on: https://app.chaingpt.org/news