Ethereum Circulating Supply Hits New Record High, Implications for Future Valuation Remain

CryptoQuant has revealed that Ethereum’s circulating supply has reached a historic high of 121 million ETH. This surge comes over three years since the network last crossed the 120 million ETH mark on August 22, 2022. The current daily issuance rate averages between 2,500 and 3,000 ETH. Despite protocol changes and upgrades over time, this stable issuance pace is driven by a crucial factor: the network’s staking mechanism. Every ETH deposited into a staking contract is locked away from circulation, effectively slowing down net supply growth and acting as a brake on token inflation.