Ethereum’s supply has fallen by around $200 million, nearing 100,000 eth for the first time since September when full Proof of Stake launched.
The reduction has accelerated since the end of March following a brief pause, with it back to now taking out of supply about ◊1,000 to 2,000 eth a day.
The biggest burners for the past six months have been Uniswap, plain eth transfers, the NFT marketplaces of OpenSea and Blur.io, as well as USDt.
For the past month, Arbitrum has joined the top burners, as well as zkSync, Optimism and StarkNet, all second layers hoping to scale ethereum.
In combination, on-chain activity has removed from circulation about 0.1% of the total supply that has now plateaued at 120 million eth.
The supply nearly doubled since 2015 when ethereum launched from about ◊70 million, but it has remained flat beginning January.
It’s only since last month that the currency became deflationary in a sustained manner, with its supply now falling to a reasonable degree for the first time.
It is also the first and only crypto of note to have its supply fall, while bitcoin continue to be inflationary in the short and medium term at about 1.7% a year.
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- Source: https://www.trustnodes.com/2023/04/17/ethereums-supply-falls-by-100000-eth
