Ether Becomes Deflationary About 4,000 Tokens After Merging
More ether is burned to verify transactions than is created so the supply has dropped by around 4,000 tokens over the last week.
According to a CoinDesk announcement, this week it became deflationary for the first time since the Ethereum blockchain switched to proof of stake (PoS) and consolidation was the first of five upgrades to be made plans for the Ethereum blockchain.
More was burned to verify transactions than was generated during the same period, resulting in a -0.13% decrease in supply from last week, which equates to about 4,000 tokens. Besides that the rate of new it creation has dropped by almost 90% since the Consolidation.
The supply decreased but the price remained flat, and Coinbase noted that the price of the cryptocurrency fell about 4% in the last week.
In addition, an ethereum-based token project called XEN triggered the deflationary burn rate as it fueled a spike in network traffic last weekend.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Elise
CoinCu News
Author
News
Ether Becomes Deflationary About 4,000 Tokens After Merging
More ether is burned to verify transactions than is created so the supply has dropped by around 4,000 tokens over the last week.
According to a CoinDesk announcement, this week it became deflationary for the first time since the Ethereum blockchain switched to proof of stake (PoS) and consolidation was the first of five upgrades to be made plans for the Ethereum blockchain.
More was burned to verify transactions than was generated during the same period, resulting in a -0.13% decrease in supply from last week, which equates to about 4,000 tokens. Besides that the rate of new it creation has dropped by almost 90% since the Consolidation.
The supply decreased but the price remained flat, and Coinbase noted that the price of the cryptocurrency fell about 4% in the last week.
In addition, an ethereum-based token project called XEN triggered the deflationary burn rate as it fueled a spike in network traffic last weekend.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Elise
CoinCu News
Other Posts
Related Posts
Latest
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!
Press Release
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
