burning

The Dencun Upgrade and ETH Supply: Inflationary Trend and Burning of Tokens

The Big Whale

26 Jun 2024 — 1 min read

ETH supply inflation since Merge and Dencun upgrade in March.
EIP-4844 introduced blobs, reducing fees on layer 2 networks.
Dencun introduced proto-danksharding for efficient data availability.
Total ETH burned since Merge exceeds added supply.
1.5 billion ETH burned, 1.36 billion added, resulting in supply reduction.
Over $1.1 billion worth of ETH burned post-Merge.

Summary :

The supply of new Ether (ETH) has been steadily increasing since April 14, with over 112,000 ETH added to the overall supply. This inflationary trend can be attributed to the Dencun upgrade, which introduced several Ethereum Improvement Proposals (EIPs), including EIP-4844. EIP-4844 implemented a mechanism called "blobs" that reduced fees for block data on Ethereum layer 2 networks. Additionally, the upgrade introduced proto-danksharding, improving data availability on the Ethereum mainnet. However, while the supply of ETH has been increasing, the total supply has actually decreased since the Merge in 2022. More than 1.5 billion ETH has been burned since September 2022, resulting in an overall reduction of 345,000 ETH, equivalent to over $1.1 billion at current prices.

Sources :

- CoinTelegraph

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