According to Shenzhen TechFlow news, on July 20, the cryptocurrency data aggregation platform CoinGecko released a report stating that Ethereum (ETH) entered inflation mode in the second quarter of 2024, and the circulating supply increased by 120,818 coins. This change is mainly due to reduced Ethereum network activity and lower gas fees, resulting in a significant reduction in the burn rate.
The report shows that in the second quarter, the Ethereum network destroyed 107,725 ETH and issued 228,543 ETH, resulting in a net increase of 120,818 ETH. The ETH destruction rate fell by 66.7% month-on-month, mainly due to reduced network activity and lower gas fees. Although ETH transfers still contributed to the destruction of 6,838 ETH, the value transfer activity in the network has decreased.
