Ethereum’s inflation rate has risen to 0.74%, calling into question the “ultrasound money” narrative. According to Binance’s October 2024 Market Insights report, Ether (ETH) issuance is at its highest level in two years. The asset’s economics are affected by the decrease in on-chain activity and low burn rates. Layer-2 solutions have reduced the amount of ETH burned by reducing the number of transactions on the Ethereum main chain.