Ethereum

Ethereum Supply Concentration In Smart Contracts Hits ATH

Post-merge, the share of Ethereum’s supply concentration in smart contracts has increased to an all-time high (ATH).

Ethereum Supply Concentration In Smart Contracts Hits ATH 5

Currently, 0.45% of all Ethereum is created through smart contracts, placing them behind staked Ethereum (0.57%) and exchange balances (0.17%).

An area perspective of some of the highest concentrations of the Ethereum supply is shown in the figure below. As a ratio of the circulating supply, supply locations are displayed from bottom to top. Yellow represents supply owned on exchanges, red represents supply held on smart contracts, and purple represents supply staked on the beacon chain.

Source: Glassnode

Before The Merge, mining accounted for the majority of new ETH issuance. About 13,000 ETH has been generated daily due to the mining process. After removing mining from the network, the new supply decreased by about 99%. Only 3,000 ETH per day is generated from staking, with a daily burn of around 1,211 ETH at press time.

Source: Ultrasound Money

At the time of writing, ETH is trading at $1592.

ETH daily chart. Source: Coincu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.