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Ethereum (ETH) issuance turned deflationary over the weekend as the broader market rose.
According to Ultrasound.money, ETH supply growth is about -0.10% per year. data.
According to Ultrasound.money’s “Simulate PoW” feature, the simulation, where ETH continues to utilize the Proof-of-Work (PoW) mechanism, would increase the supply by another 1.45 million ETH, an increase of about 4% to the network.
However, the merge event and the switch to the Proof-of-Stake mechanism removed 32 ETH from the total supply of assets, returning ETH to its deflationary state.
Ethereum is trading near $1600 for the first time since FTX collapsed in November 2022. crypto slate data.
ETH broke the $1500 barrier on January 14th and has been trading above the threshold ever since. In the early hours of January 16, ETH traded as high as $1579 before returning to the current dollar1,567.
Over the past 30 days, ETH has outperformed Bitcoin’s price performance, rising 34.2%, while BTC has risen 27% over the same period. crypto slate data..
The post Ethereum going into deflation amid the weekend market rally first appeared on CryptoSlate.
