ETH’s Supply Change Since The Merge

The merger was the biggest event this year. It marked Ethereum’s long-awaited transition from a Proof-of-Work to a Proof-of-Stake governance consensus.

In addition to other benefits, one of the most noticeable differences was the change in supply. Since miners are no longer mining ETH, the issue has dropped by more than 99%.

  • At the time of writing, the ETH supply change since the merger has passed 9,000 and stands at 9,700. This means that only 9,700 ETH have been added to the global supply since then.
  • The data is provided by the popular resource, where users can also simulate the supply change as if Ethereum was still governed by Proof of Work. This is what the chart looks like:
Source: Ultrasound Money

  • As we saw above, the difference is astronomical. It’s also worth noting that since moving to PoS, Ethereum’s issuance is also much lower than Bitcoin’s.
  • In this sense, today CryptoPotato reported that Ethereum briefly turned deflationary as users paid almost $1.8 million in gas fees to analysts with the token contract of a new project called XEN Crypto.
  • This is because of the way EIP-1559 works: it burns a certain amount of ETH based on the current transaction fees, and the higher they are, the more ETH is burned.

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