$ETH

The highly anticipated upgrade for Ethereum, Beetra, went live yesterday and has already started to impact the supply dynamics of the network. On-chain data reveals a sharp decline in the circulating supply of the currency, now at its lowest level in 18 days.

This supply shortage is driven by an increase in user activity on the Layer 1 (L1) network over the past day. If this trend continues, the price of ETH could rise to new levels.