Good news for Ethereum enthusiasts! Based on the latest data from Messari, Ethereum's supply shows impressive stability, which is a strong signal for its long-term value growth. This is the last piece of the puzzle that completes the big picture of Ethereum. 🧩
Let's take a look at the chart together, shall we! 😊
Controlled Supply, Long-Term Value Maintained 🛡️
The graph shows that the circulating supply of Ethereum is relatively stable. By the end of June 2025, the supply only increased slightly by 0.1% QoQ, reaching a total of 120.7 million ETH.
This is big news because it shows that Ethereum has successfully controlled the rate of inflation in its supply. Compared to traditional currencies that are continuously printed (high inflation) or even Bitcoin before halving, Ethereum's annual inflation rate remains stable in the range of 0.6% to 0.8%. This number is very low and illustrates the strength of Ethereum's economic mechanisms.
ETH Burning Rate Slows Down, But Why? 🤔
This graph also shows the daily fluctuations in ETH supply, where we can see a sharp decline over time due to the "burning" mechanism introduced by EIP-1559. Remember, the transaction fees paid by users will be burned, thus reducing the total supply of ETH.
Well, this is directly related to the data we discussed earlier: The Decrease in Ethereum's Daily Transaction Fees. As transaction fees dropped drastically (58% QoQ), the amount of ETH burned also became less. As a result, the supply is no longer shrinking rapidly, but rather tends to stabilize. This is also in line with the stagnant TVL data of Ethereum stablecoins, indicating a slowdown in on-chain activity.
So, What's the Conclusion? 🧠
Overall, this data indicates a very positive "neutral scenario." Ethereum's supply is no longer increasing rapidly, which means there is no significant inflationary pressure on its price.
When the Bull Run arrives (as we discussed from the macro data), network activity will increase rapidly. Transaction fees will rise again, and the burning mechanism will work even harder. If that happens, Ethereum has great potential to enter a deflationary phase, where its supply truly shrinks. This would be an incredible catalyst for its price increase! 🚀