Cryptoquant, a cryptocurrency analysis company, has announced that Ethereum’s circular supply has reached historic record, exceeding 121 million ETH.
This level occurred almost three years after the network reached a supply of 120 million ETH on August 22, 2022.
Currently, Ethereum generates around 2,500-3,000 ETH per day. This shows a stable publishing rate despite protocol changes and upgrades over time. However, circulating supply is determined not only by issuance but also by staking mechanisms. All ETH deposited in a staking contract will be removed from the circulation, slowing the growth of net supply and act as a brake on token inflation.
Currently, the total amount of ETH generated by the Ethereum network is:
- Circulating supply: 121,000,000 ETH
- ETH is locked up in a staking agreement: 36,182,039 ETH
- Total ETH generated: 157,182,039 ETH
Cryptoquant points out that this data shows that Ethereum’s financial foundation is expanding through controlled issuance and staking-based lockup models. Analysis shows that deflationary narratives can be weaker in the short term, but the balance between supply and staking remains important for Ethereum’s future assessment. Whether future price pressures stem from inflation or from network activity levels is a key factor in determining this balance.
*This is not investment advice.
