EIP-1559 has increased deflation in Ethereum, but it is still an overall inflationary asset. To get a gauge of how burning base fees impact Ether’s circulating supply, the report compares last year’s data to create a hypothetical scenario where the London hard fork was activated in 2020. The calculation implies the present burn rate of 3.81 Ether per minute, which assumes that everything remains constant.
This resulted in a burned supply of 3 million Ether, approximately 17% of the total inflation per year. This is a significant reduction in inflation, which is projected to increase the scarcity of Ether in the long term.
At the current market price, this equates to approximately $10 billion worth of Ether burned since January 2020. Given the current $378-billion market cap of Ether, this is a sizable 3% of Ether’s supply value removed from circulation.
This resulted in a burned supply of 3 million Ether, approximately 17% of the total inflation per year. This is a significant reduction in inflation, which is projected to increase the scarcity of Ether in the long term.
At the current market price, this equates to approximately $10 billion worth of Ether burned since January 2020. Given the current $378-billion market cap of Ether, this is a sizable 3% of Ether’s supply value removed from circulation.
Oscar Crypto | Futures
ftm/btc Long if there is a confirmed breakout of the higher boundary of the channel/resistance zone.
ftm/btc update
FTM made +45.50% profit so far.
FTM made +45.50% profit so far.
Oscar Crypto | Futures
rune/btc The main scenario that I'm looking to trade.
rune/btc update
RUNE gained +64% profit so far.
RUNE gained +64% profit so far.