What's happening in the Ethereum network? Recently, gas has dropped to a record low level of 5 gwei. The deflationary model of Ethereum has transitioned to an inflationary one. In the last 30 days, the supply of Ether has increased by 30,000 ETH. The current issuance of Ether is 829,000 ETH, and burning has decreased to 464,000 ETH per year. Such a decrease in gas levels in the network is made possible by shifting all possible activities to Layer 2, including pre-farming on l2and others