The biggest altcoin Ethereum (ETH)was receiving criticism from some investors due to its unlimited supply. However, after the Merge update last month, it was noted that the rate of increase in ETH supply slowed down significantly.
According to the data of YCharts, exactly one year ago, on October 10, 2021, the total supply of Ethereum tokens was 117.66 million. While the ETH supply reached 120.53 million in the October 2021-September 2022 period, this increase seems to have stalled with the Merge update.
held on September 14, 2022 Merge It’s been almost a month since the update. Before the update, the total supply had increased by 250 thousand per month, but with Merge, that changed.
120.53 million at the update date ETH supply has barely risen to date, according to the data.
The developers claimed that with the Merge update, Ethereum would switch to a deflationary (decreasing supply) structure. Although there is no serious decrease in supply, the cessation of the increase in the supply confirms the claims.
Former Ethereum Miners Keep Buying!
The Merge update, which went down as a revolution in the history of cryptocurrencies, completely changed the functioning of the Ethereum network. The ETH network no longer operates on a proof-of-work (PoW) system where miners are rewarded, but on a proof-of-stake (PoS) system where shareholders are rewarded. However, according to on-chain data, old miners continue to buy ETH.
According to data from OKLink, legacy miners continue to buy between 100 and 500 Ethereums daily. It seems that miners who have lost their position in the ETH network at least want to continue as investors.
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