Ethereum miners dump 30K ETH, stonewalling ultra sound money deflation narrative
ETH/USD pang-araw-araw na tsart ng presyo. Pinagmulan: TradingViewEthereum remains inflationary The Ether price drop on Sept. 15 also coincided with an increase in ETH supply, albeit not immediately post-Merge. $ ETH is now Ultra Sound Money pic.twitter.com/fKz6VmoWdR - DavidHoffman.eth (@TrustlessState) Septiyembre 15, 2022 Roughly 24 hours later, the supply change flipped positive once more, pouring cold water on the “ultra sound money” narrative due to a deflationary environment that some proponents expected post-Merge. Pre-Merge, Ethereum distributed around 13,000 ETH per day to its proof-of-stake (PoW) miners and about 1,600 ETH to its PoS validators. But the rewards to miners bumaba after the Merge went live by roughly 90%. Meanwhile, validators receiving Ether rewards now only make 10.6% of the previous amount. As a result, Ethers anual emissions have dropped by around 0.5%, making ETH less inflationary, and perhaps even deflationary under certain circumstances. Still, the Ether supply has been rising at an anual rate of 0.2% after the Merge, ayon sa to data provided by Ultrasound Money. Ether supply rate after the Merge. Source: Ultrasound.Money The main reason behind the growing supply is lower transaction fees. Notably, Ethereum made a change to its protocol in August 2021 that introduced a fee-burning mechanism. In other words, the network started removing a