Ethereum's Deflationary period completes 30-days
Back in September, Ethereum [ETH] finally transitioned into proof-of-stake [PoS] through the Merge. This upgrade was not just focused on giving the network a more energy-efficient look but it was also expected to make ETH deflationary. While it initially did not show major signs of turning into a deflationary asset, it slowly seems to be veering in that direction. Ethereum’s issuance took a major hit following the Merge. The PoS network’s anticipated yearly issuance is around 600,000 ETH. The total amount of ETH in circulation was 120,520,222 post the Merge. At the beginning of October, this metric witnessed a climb to 120,534,212 ETH This figure alone indicated a sharp decline in the amount of Ethereum issued as a result of the departure of proof-of-work miners. If the blockchain had not switched to a PoS approach, the total supply would have been close to 120,944,347 ETH . Thanks to the burn rate throughout the month of October, the altcoin ended up recording it...