{"id":635810,"date":"2024-08-16T08:00:47","date_gmt":"2024-08-16T08:00:47","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=635810"},"modified":"2024-08-15T18:54:42","modified_gmt":"2024-08-15T18:54:42","slug":"is-ethereum-inflation-supply-reaches-high-as-staking-takes-off","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/ethereum\/is-ethereum-inflation-supply-reaches-high-as-staking-takes-off\/","title":{"rendered":"Is Ethereum Poised for Inflation? Supply Reaches New High as Staking Takes Off"},"content":{"rendered":"

While Ethereum hasn’t been quite consistent with its bullish trajectory in the past weeks, its circulating supply has done the opposite. According to data<\/a> from Ultrasoundmoney, ETH’s circulating supply has skyrocketed to over 120.72 million ETH as of today.<\/p>\n

Although this increase in supply is not straightforwardly negative for ETH<\/a>, it still marks a notable shift in the network’s dynamics, fuelled largely by adopting Ethereum’s proof-of-stake (PoS) model.<\/p>\n

Related Reading: Bigger Risks More Returns: Ethereum\u2019s Volatility Surpasses Bitcoin\u2019s by 50%, Data Shows<\/a><\/div>\n

Supply Increase, How And Why?<\/h2>\n

The surge in Ethereum’s total supply to 120.72 million ETH, as shown in the data from Ultrasound.money, reflects the network\u2019s increasing activity over the past month.<\/p>\n

In this period alone, Ethereum saw the issuance of 77,102 ETH, while 19,402 ETH were removed from circulation through a burning mechanism introduced in the network’s recent London Hard Fork.<\/p>\n

The net increase of approximately 57,653 ETH highlights a gentle uptick in the annual supply growth rate from 0.58% to 0.69% over the last 7 days.<\/p>\n

\"Ethereum
Ethereum supply change in the past 7 days. | Source: Ultrasoundmoney<\/figcaption><\/figure>\n

Notably, with Ethereum\u2019s transition from the proof-of-work (PoW) to PoS model, the network has not only achieved a major shift in security but has also increased the rewards for participation.<\/p>\n

Concerning the likely reasons behind the increase in supply, about 33.9 million ETH are currently staked in the network, generating substantial rewards<\/a> in newly issued ETH.<\/p>\n

\"Total
Total ETH staked. | Source: Beaconcha.in<\/a><\/figcaption><\/figure>\n

This large-scale staking appears to be contributing significantly to the increase in Ethereum\u2019s total supply. Additionally, the staking process has been further amplified by the trend of restaking, where participants reinvest their staking rewards into the network.<\/p>\n

This restaking cycle creates a compounding effect on the issuance of new ETH, boosting the supply even as the network moves to a “seemingly” inflationary trajectory after the initial deflationary expectations set by the ETH burn mechanism.<\/p>\n

Ethereum Market Performance<\/h2>\n

So far, Ethereum appears to be seeing a gradual\u00a0<\/a>price increase<\/a><\/span>, from $2,500 last Thursday to currently trading at $2,652 at the time of writing, marking a 9.3% increase in the past 7 days.<\/p>\n

\"Etheruem
ETH price is moving sideways on the 1-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

This surge in value coincides with ETH’s market cap valuation<\/a>, which saw\u00a0a spike of nearly $20 billion over the same period. Despite this rise, ETH’s daily trading volume has seen the opposite.<\/p>\n

Particularly, over the past week, this metric has plunged from over $21 billion to currently sitting at $12.8 billion. Regardless of this, many analysts in the crypto space remain bullish on Ethereum.<\/p>\n

Related Reading: Ethereum Price Struggles to Sustain Gains: Is the Uptrend in Trouble?<\/a><\/div>\n

Earlier today, a renowned analyst known as the titan of crypto on X has set a $3,000 target for ETH<\/a>. According to the analyst, ETH looks ready for a major rally as a “CME futures GAP” towards the upside remains unfilled.<\/p>\n

\n

#Altcoins<\/a> #Ethereum<\/a> $3,000 Target \ud83c\udfaf#ETH<\/a> looks poised for a move, with a CME futures GAP above still waiting to get filled. pic.twitter.com\/6lC2d6lgQ6<\/a><\/p>\n

\u2014 Titan of Crypto (@Washigorira) August 15, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

While Ethereum hasn’t been quite consistent with its bullish trajectory in the past weeks, its circulating supply has done the opposite. According to data from Ultrasoundmoney, ETH’s circulating supply has skyrocketed to over 120.72 million ETH as of today. Although this increase in supply is not straightforwardly negative for ETH, it still marks a notable shift in the network’s dynamics, fuelled largely by adopting Ethereum’s proof-of-stake (PoS) model. Related Reading: Bigger Risks More Returns: Ethereum\u2019s Volatility Surpasses Bitcoin\u2019s by 50%, Data Shows Supply Increase, How And Why? The surge in Ethereum’s total supply to 120.72 million ETH, as shown in the data from Ultrasound.money, reflects the network\u2019s increasing activity over the past month. In this period alone, Ethereum saw the issuance of 77,102 ETH, while 19,402 ETH were removed from circulation through a burning mechanism introduced in the network’s recent London Hard Fork. The net increase of approximately 57,653 ETH highlights a gentle uptick in the annual supply growth rate from 0.58% to 0.69% over the last 7 days. Notably, with Ethereum\u2019s transition from the proof-of-work (PoW) to PoS model, the network has not only achieved a major shift in security but has also increased the rewards for participation. Concerning the likely reasons behind the increase in supply, about 33.9 million ETH are currently staked in the network, generating substantial rewards in newly issued ETH. This large-scale staking appears to be contributing significantly to the increase in Ethereum\u2019s total supply. Additionally, the staking process has been further amplified by the trend of restaking, where participants reinvest their staking rewards into the network. This restaking cycle creates a compounding effect on the issuance of new ETH, boosting the supply even as the network moves to a “seemingly” inflationary trajectory after the initial deflationary expectations set by the ETH burn mechanism. Ethereum Market Performance So far, Ethereum appears to be seeing a gradual\u00a0price increase, from $2,500 last Thursday to currently trading at $2,652 at the time of writing, marking a 9.3% increase in the past 7 days. This surge in value coincides with ETH’s market cap valuation, which saw\u00a0a spike of nearly $20 billion over the same period. Despite this rise, ETH’s daily trading volume has seen the opposite. Particularly, over the past week, this metric has plunged from over $21 billion to currently sitting at $12.8 billion. Regardless of this, many analysts in the crypto space remain bullish on Ethereum. Related Reading: Ethereum Price Struggles to Sustain Gains: Is the Uptrend in Trouble? Earlier today, a renowned analyst known as the titan of crypto on X has set a $3,000 target for ETH. According to the analyst, ETH looks ready for a major rally as a “CME futures GAP” towards the upside remains unfilled. #Altcoins #Ethereum $3,000 Target \ud83c\udfaf#ETH looks poised for a move, with a CME futures GAP above still waiting to get filled. pic.twitter.com\/6lC2d6lgQ6 \u2014 Titan of Crypto (@Washigorira) August 15, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":626945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[6664,10923,8323,1946,10336,91844,90863,78803],"class_list":["post-635810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-crypto","tag-crypto-market","tag-eth","tag-ethereum","tag-ethereum-analysis","tag-ethereum-market","tag-ethereum-supply","tag-ethusdt"],"acf":[],"yoast_head":"\nIs Ethereum Poised for Inflation? 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These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/www.uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Ethereum Poised for Inflation? 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