Odaily News CoinGecko posted on the X platform that Ethereum became inflationary in the second quarter of 2024, with a net increase of 120,818 ETH in circulation. This was mainly due to the decrease in Ethereum network activity and lower gas fees, which led to a significant decrease in the destruction rate. In the second quarter of 2024, the Ethereum network destroyed 107,725 ETH, while 228,543 ETH were issued, which resulted in a net increase of 120,818 ETH in circulation. The ETH destruction rate fell by 66.7% month-on-month due to reduced network activity and lower gas fees. The decline in transaction volume was an important reason for this decline. In the second quarter of 2024, ETH transfers, the area that contributed most to ETH destruction, destroyed 6,838 ETH. This reflects that although the phenomenon of using the network for value transfer has decreased, it still persists.
Ethereum turned to inflation in the second quarter, with a net increase of more than 120,000 ETH supply
2024/07/20 22:36
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