ETH Circulating Supply returns to pre-Merge! The Blobs mechanism leads to too few destructions, is Ethereum becoming more useful but more disappointing with ETH?

Since The Merge upgrade on September 15th, 2022, the Ethereum stake and the network fuel Ether (ETH) supply have been continuously changing. Recent data shows that the ETH supply has reached its highest level since January of last year. This change has caused the market to start following Ethereum as the positioning of 'Ultrasound Money' (Ultrasound Money) remains stable, especially after the Dencun upgrade, where the ETH supply begins to show inflationary trends.

ETH supply rebounded to the level before The Merge

According to the data from Ultrasound.money, the total supply of ETH has reached 120,521,608, which is 569 more ETH than the supply on the day of The Merge.

Did the upgrade of Dencun cause inflation of ETH supply? Blobs vested interest

Presto Research analyst Jaehyun Ha stated that the increase in ETH supply is related to the Dencun upgrade in March 2024, which may affect Ethereum's status as an "ultrasound currency".

(Simple popular science | What is the Kankun upgrade (Dencun)? What impact does it have on Ethereum (Ethereum) and L2?)

At Dencun