Source: Coindesk.com
The recent Dencun upgrade lowered fees by 4x, on average. This led to less ETH being burned, thus reversing its status as a deflationary asset.
Ethereum's recent Dencun upgrade, which was designed to reduce fees and help scale the network, has caused ether (ETH) to revert back to an inflationary asset
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Source: Coindesk.com