The supply of ETH for long-term holders is at an all-time high.#IntoTheBlockdata shows this.
Since 2021, this share of the asset has grown by almost 100%. Everyone is waiting for the launch of spot Ethereum ETF trading
At the same time, network fees on the#Ethereumblockchain have reached their lowest level since 2016. And 9 of the 10 lowest periods were recorded in the last week. This already reflects stagnation in the market and the lack of activity of participants.
As a result, since mid-April the supply of ETH has been growing, it has again become inflationary. Low fees - low burn. In 30 days, the blockchain produced 76,085 ETH as rewards within the PoS algorithm, and 26,289 ETH was burned in commissions. Net increase in supply for the month - 49,795 #ETH. This, however, is still significantly less than if the blockchain remained on the PoW algorithm. According to the simulation from ultrasound. money.
To summarize - blockchain and an asset “in idle time” according to the interest of users. Taking into account the protracted price range of the main assets on the market, this is not surprising. But no one is going to dump their investment positions. Everyone is waiting for a reversal of dominance and continued growth of ETH paired with BTC.
