Inflationary Ethereum Supply Exceeds 120M
Ethereum supply surpassed 120 million ETH, up 15.844 in 7 days.
Gas expenses for ETH average 6.4 gwei as of August 15.
Ultrasound.money reports that Ethereum's supply has risen by 57.659 ETH in 30 days to 120.275 ETH.
According to the same report, 19,438 ETH was burned in 30 days at 0.45 ETH/min.
77,097 ETH were issued in the previous 30 days, while the burning mechanism incinerated 57,659 ETH.
Ethereum had grown 0.58% yearly and 0.69% in the previous week.
Ethereum supply grows faster than burn.
The ETH burning mechanism was created during Ethereum's London Hard Fork and caused deflation. Since issuance exceeded burn, ETH is currently inflationary.
Additionally, ETH's PoS consensus method has boosted network security and participation benefits.
However, 33.9 million ETH staked for over half a trillion dollars get rewards in freshly issued ETH, increasing supply.
Restaking incentives increases ETH issuance, speeding up the process.
This increases Ethereum's inflationary supply.
Ethereum network activity boosts burn rate, but gas taxes show poor activity, which leads to inflation.
August 15 Ethereum Gas Fees
Etherscan.io reports that Ethereum gas fees average 6.461 gwei, or $0.000000000099 USD.
The Ethereum blockchain uses gwei, small fractions of ETH, to calculate gas expenses.
Users pay these transaction charges for network operations. Transactions may vary from passing ETH between addresses to smart contract interactions.
Ethereum is now trading at $2,660.
