Ethereum's Supply Surges, Rivals Struggle, and Price Stagnates
The global supply of Ethereum (ETH) has increased by nearly 30,000 ETH in the last 30 days, equivalent to around $47.9 million, due to a decline in transaction flow on the Ethereum network. This surge in ETH supply is a result of lower transaction fees, which means less ETH is being burned and permanently removed from circulation. Some crypto users and investors are concerned about Ethereum's recent inflationary trend, but the Ethereum team appears largely unconcerned, stating that it is insignificant in the grand scheme of things.