ETH Supply Up by 20,125 in Past 7 Days

The shift to net inflation marks a notable reversal from the post-merge deflationary narrative, driven by current network activity levels. This directly affects holders monitoring supply dynamics and could weigh on sentiment if the trend persists, though it reflects transaction demand rather than a fundamental flaw. The key question is whether fee burn rates will recover with network usage, as sustained inflation would challenge Ethereum's store-of-value positioning relative to other assets. Watching whether this is a short-term blip or a structural change in fee dynamics is what matters next.