Ethereum (ETH) According to Ultrasound, the website that provides data on the network, the token of the largest smart contract network has taken on a re-deflationary structure. According to the data, the total supply has decreased by 125 ETH since the Merge update as Ethereum inflation fell to zero.
The biggest criticism argument of Bitcoin maximalists was that Ethereum is open to inflation due to the unlimited supply. However, recent data shows that with the Merge update, the switch from proof-of-work to proof-of-stake PoS has gone away for now.
According to ultrasound data, an average of 770 thousand Ethereum is burned annually. The expected annual inflation rate is -0.12.
The graph on the website of another market follower, Etherscan, confirms the Ultrasound data.
According to Etherscan, daily Ethereum burns have increased by 32% since the beginning of the year, reaching 2,000 daily.
Latest Situation in Ethereum
Ethereum, the largest altcoin by market cap, has gained 30% in 15 days with purchases since the beginning of the year.
Ethereum, which broke the $1,425 and $1,550 resistance with the attack of the bulls last week, may face a sell-off at $1,650 if it continues to rise. If this level is crossed, the next resistance is located around $1,785.
At this stage, the most important support is the $ 1520 levels.
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