Ethereum supply reverted back to September levels
1 min read
Ethereum supply it’s currently at its lowest level since September 29th, making it the longest deflationary period until now.
This was possible thanks to the merge, which already prevented the issuance of more than 310K ETH ($400M).
Currently, Ethereum is deflationary as long as the average gas price is above 15 gwei. This means supply will decrease faster during a bull market, where network usage is higher, and so are gas prices.
The decrease in supply we are seeing was due to Xen crypto, which is currently leading the leaderboard of ETH burns.
submitted by /u/mytwm
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