The Ethereum supply is declining at the fastest pace in history: according to the Ultrasound.Money tracker, the ETH supply increased by -0.33% over the last month. The flare mechanism to optimize gas usage was launched from EIP-1559 in mid-September 2022. After its implementation, the amount of ETH burned exceeded the number of mined coins, which means that the emission of tokens became negative or deflationary. Ethereum supply down 72,000 ETH Since the transition of Ethereum to the Proof-of-Stake consensus algorithm, the ETH supply has decreased by 72,186 coins, or about $130 million at current prices. According to forecasts, in a
Ethereum 2.0 staking skyrocketed after the successful Shanghai upgrade, sending ETH price to a 2023 peak of $2,120 on April 17. On-chain data examines the negative correlation emerging between smart contract deposits and the ETH price. The much-anticipated Shanghai upgrade went live on April 12, marking Ethereum’s full transition to…
Ethereum 2.0 staking skyrocketed after the successful Shanghai upgrade, sending ETH price to a 2023 peak of $2,120 on April 17. On-chain data examines the negative correlation emerging between smart contract deposits and the ETH price. The much-anticipated Shanghai upgrade went live on April 12, marking Ethereum’s full transition to…