Coinbase, one of the world’s largest cryptocurrency exchanges, claimed that Ethereum (ETH) has become deflationary for the first time since its transition to the Proof-of-Stake (PoS) system.
coinbase October 13 In a report published on Merge after update to a turning point stated that it has arrived. With more Ethereum being burned than was created in the same period for the first time since the transition to the PoS system deflationary The supply of Ethereum, which has become 4,000 ETH experienced a decline.
In the stock market report, since the Merge update, the new Ethereum supply is approximately 90% He said he fell. Some analysts fall in supply to rise in price stated that it should. However, Coinbase said Ethereum’s approximate 4% noted its depreciation.
Another detail in the report is XEN An Ethereum-based token project called in network traffic to a big increase and that’s what triggered the deflationary burn rate of Ethereum.