Ethereum turned to inflation in the second quarter, with a net increase of more than 120,000 ETH supply

Bitget App

Trade smarter

Odaily2024/07/20 14:48

By:Odaily

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.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Explore Qubetics, Arbitrum, and Immutable X, the top crypto to buy in 2025. Dive into their unique features, presale updates, and blockchain impact.Qubetics: Leading the Charge in Blockchain InteroperabilityArbitrum Enhances Blockchain Privacy with New Web AppImmutable X Partners with Ubisoft to Launch New Blockchain GameInteroperability in Blockchain: The Future is ConnectedConclusionFor More Information:

Coinomedia•2025/05/01 08:33

Qubetics Presale Hits $16.5M – Top Crypto to Buy Now as Arbitrum and Immutable X Make Waves

Open Project proposes tokenized securities on Solana blockchain with support from Superstate and Orca

Portalcripto•2025/05/01 07:11

UK Government Releases Comprehensive Draft Legislation to Support Industry and Curb Fraud

The UK government has unveiled a 27-page draft legislation aimed at bringing cryptocurrency activities under formal financial regulation for the first time. This move seeks to foster innovation while protecting consumers by extending existing financial rules to digital assets like stablecoins, crypto exchanges, and custodial services.

DeFi Planet•2025/05/01 06:44