On October 21st, according to ultrasound.money data, the circulating supply of Ethereum has grown by over 40,000 since the merge. Previously, the circulating supply of $ETH had declined by over 300,000 before the merge due to reduced network usage, lower transaction fees, and an increased issuance rate compared to the destruction rate. Currently, the amount of circulating supply reduction compared to before the merge has decreased to around 257,000.