According to EmberCN, the total supply of ETH has increased by 228,000 tokens, valued at $602 million, over the past four and a half months. This equates to an average daily increase of 1,652 tokens. The decline in on-chain activity has resulted in ETH Gas fees remaining below 2 Gwei since early April this year. Low Gas fees mean that ETH production exceeds the burn rate, leading to inflation. The total supply of ETH has risen from 120,063,605 to 120,291,622 during this period.