According to ChainCatcher, Ethereum gas fees are currently hovering between 2 and 5 gwei, which is one of the lowest levels so far. The decline in network fees has led to a decrease in the amount of ETH destroyed. On Sunday, the amount of ETH destroyed was only 266.06 ETH, a new low since the EIP-1559 upgrade.
According to Ultrasound.money data, Ethereum's supply has been inflated over the past week, with a supply growth rate of 0.56%, which is the opposite of the previous deflationary nature. If activity picks up and more ETH is destroyed than issued, it will fall into deflation again.
