Ethereum’s Getting Scarce Again — And That’s 🔥
Ethereum’s back on the move, and this time, it’s about what’s not there. On-chain stats just showed ETH’s circulating supply hit an 18-day low at ~120.69M. Translation: it’s getting rarer — and that could be bullish AF.
The reason? More people are actually using Ethereum’s main chain again. On May 7, over 474k wallets were active — the most in a month. That means more transactions, more gas, and way more ETH getting burned.
Etherscan confirms it — burn rate just hit early-May levels, with a chunk of ETH straight-up vanishing from circulation.
The recent Pectra upgrade seems to be fueling all this action. But hold up — even though ETH is getting spicy on-chain, market analysts still advise caution. Macro vibes and investor mood swings could easily flip the script.
Still, if this burn train keeps rolling and activity stays up, Gen Z bag holders might just catch that next ETH rally. Let’s see if scarcity makes ETH pop like it did in 2021.
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