The sustainability of Ethereum's deflationary trend until the end of 2025 is uncertain. Recent data shows Ethereum's supply growth has slowed due to factors like the Dencun upgrade and potential rate cuts, with some projections suggesting a return to deflation by early 2025. However, the Dencun upgrade also reduced fees, leading to less ETH being burned, which could shift it back to an inflationary state. Market conditions, network activity, and upcoming upgrades like Pectra will play critical roles. While experts are optimistic about long-term deflationary pressure from mechanisms like EIP-1559, short-term fluctuations and external factors like regulatory changes could disrupt this trend. Continuous monitoring of supply dynamics and network usage is essential.