Ethereum Gas Fees Reach Lowest Level This Year, Leading to Decrease in Burned ETH

According to PANews, Ethereum gas fees are currently fluctuating between 5 and 10 gwei, marking one of the lowest levels so far this year. This decrease in network fees has led to a reduction in the amount of Ethereum (ETH) being burned. On Sunday, only 610 ETH were burned, setting a new low for this year. In contrast, the daily amount of ETH burned in the first four months of the year remained between 2,500 and 3,000 ETH. Data from Ultrasound.money reveals that over the past week, the supply of Ethereum has experienced inflation, with a growth rate of 0.49%. This is contrary to its previous deflationary nature. If activity picks up and the amount of ETH burned exceeds the issuance, it could once again fall into deflation.