TechFlow reports that on August 19, cryptocurrency analytics firm Kaiko Research released a report stating Ethereum's gas fees have recently hit a five-year low due to increased Layer 2 activity and the Dencun upgrade in March reducing Layer 2 transaction costs. This fee reduction has significantly impacted Ethereum, as lower fees mean less ETH is being burned, leading to an increase in token supply. Since April, ETH's total supply has been steadily rising. Despite demand drivers such as spot Ethereum ETFs,持续增长的供应 may suppress potential price gains in the short term.
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