The circulating supply of ETH has now risen steadily for nearly 72 consecutive days, adding nearly 50,000 ETH ($168.70 million) since mid-April, which means that Ethereum is in the midst of its longest period of inflation to date. At the same time, the number of transactions on the Ethereum mainnet continues to increase, and Tier 2 activity has also exploded. Historical data shows that since the merger in September 2022, ETH has experienced inflation for a longer period of time in only a few cases, the longest being 40 days shortly after the hard fork and 30 days at the end of last year.