Odaily Planet Daily News CoinGecko posted on the X platform that Ethereum became inflationary in the second quarter of 2024, and the circulating supply of ETH increased by a net 120,818 pieces. This is mainly caused by reduced Ethereum network activity and lower gas fees, resulting in a significant reduction in the destruction rate. In the second quarter of 2024, the Ethereum network burned 107,725 ETH while 228,543 ETH were issued, resulting in a net increase of 120,818 ETH in the circulating supply. The ETH burn rate dropped 66.7% month-on-month due to reduced network activity and lower gas fees. Declining transaction volumes were a significant contributor to this decline. In the second quarter of 2024, ETH transfers were the area that contributed most to the destruction of ETH, with 6,838 ETH destroyed. This reflects that although the use of the network for value transfer has declined, it continues to exist.