Ethereum Issuance Decreased 94% Since The Merge, What Does This Mean For Its Future?
Ethereum has experienced a decrease in ETH issuance since the Merge upgrade.
Specifically, its issuance rate has decreased by 98% since the Merge, and the asset is not yet deflationary due to the fact that its issuance is still more than burned ETH.
Ethereum is the second-largest cryptocurrency in terms of market capitalization. However, after the Merge, it has decreased in some aspects.
Ethereum’s issuance decrease
In the latest Ethereum news, we covered how far Ethereum can increase as the VIX index made a comeback.
However, based on data from Ultra Sound Money, the issuance rate of Ethereum (ETH) has decreased by 94% following the Merge.
Since it transitioned, the supply has reached +8,200.67 ETH, while if it was still under the Proof-of-Work (PoW) consensus mechanism, it would be at +139,680.20 ETH.
This token issuance could also be attributed to the reduced activity on the Ethereum network, which resulted in lower gas fees.
In any case, the lower token amount could result in an increased value of Ethereum going forward.
Should you buy Ethereum (ETH)?
On September 26, 2022, Ethereum (ETH) had a value of $1,323.30.
(Click on image to enlarge)
Looking at the coin’s all-time high, Ethereum (ETH) reached a value of $4,878.26 on November 10, 2021.
Ethereum’s 7-day low was at a value of $1,238.84, while its 7-day high was at a value of $1,388.23. Here we can see a difference in the value of 12%, or by $149.39.
When we go over its daily performance, its 24-hour low was at $1,280.56, while its 24-hour high was at a value of $1,331.44; here, we can see a 4% difference by $50.88.
When we look at the chart, its recent high was in April at $3,513.19, after which it saw a dip to $1,778.92 and has not recovered since that point.
However, based on its current price fluctuation, we can see the ETH cryptocurrency increase in value to $1,500, which means that investors might want to buy ETH while the price is still relatively lower than average.
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