Ethereum Issued 20,865 ETH and Burned 185 ETH in Seven Days

The Ethereum network issued approximately 20,865 ETH and burned only 185 ETH in the last seven days. Currently, the supply of ETH is growing at an annualized rate of about 0.88%. The idea of a deflationary ether began to develop in August 2021 with the implementation of the EIP-1559 proposal, which allows for the removal from circulation of a portion of the fees paid for using the network. Since then, there have been periods when the amount of ETH destroyed exceeded that created, leading to a contraction in supply. This dynamic has solidified the promise that ETH could become an asset whose supply decreases as the use of Ethereum increases.

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