Ethereum (ETH) supply has decreased significantly after the EIP-1559 rise. The upgrade took effect last August, according to Ultrasound.Money data. The amount of ETH burned since the update was recorded as 50,317, which equates to $77.5 million.
Koinfinans.com As we have reported, Ethereum’s EIP-1559 After the upgrade goes into effect, every time an ETH transaction is sent, a percentage of the transaction fee is permanently removed from Ethereum’s circulating supply.
This means that the more interest, adoption, and transaction volume the ETH network registers, the scarcer the asset can become.
As a result, aggregate supply has become deflationary compared to unlimited money printed in an inflationary world.
Ethereum’s next major upgrade, known as the Shanghai upgrade, was recently delayed. The upgrade will release approximately $25 billion worth of ETH locked in early staking contracts.
The developers were pushing Shanghai to launch this month, but they recently announced it’s being delayed until April at the earliest.
You can follow the current price action here.