• Home
  • Podcast
  • App
No Result
View All Result
Subscribe
×
sign in
  • Learn
    • All
    • Crypto Basics
    • Token Metrics Tutorials
    • Weekly Index Performance

    Bitcoin: Everything You Need To Know

    What is Web 3.0? Everything You Need to Know

    NEW Token Metrics Crypto Market Indicators

    Weekly Index Performance – May 26, 2022

    NFTs Explained: What Are Non-Fungible Tokens?

    Weekly Index Performance – April 27, 2022

    When Does the Crypto Market Close?

    Will Shiba Inu reach $1?

    How to Receive Crypto Alerts Through Token Metrics

    • Crypto Basics
    • Weekly Performance
  • Market Analysis
    • All
    • Market Navigator
    • Market Update
    Crypto vs. Stocks

    Stocks vs. Crypto and Commodities Top? | Market Update

    Market Update

    Buy Fear in August for a Better September? | Market Update

    Market Update

    Is it a Dip, a Top, or a Range? | Market Update

    Market Update

    Reversal of Fortune: How Long Can the Rally Last | Market Update

    The Ghost of Lehman Brothers | Market Update

    BTC & ETH Road map, July – October 2022 | Market Navigator

    The Next Stage and a Look to the Future | Navigator

    DXY and Revised 2022 Road Map | Navigator

    BTC Monthly Chart, ETH Summer Roadmap, Q&A | Navigator

    • Market Update
    • Price Prediction
    • Market Navigator
  • Deep Dive
  • Hidden Gems
    • All
    • DeFi
    • Gaming and Metaverse
    • NFTs
    • Web 3
    Azuki NFTs

    Azuki | Hidden Gems – NFT

    LonelyPop

    LonelyPop, POTATOZ By 9GAG | Hidden Gems – NFT

    Moonrunners, Disco Kittiez | Hidden Gems – NFT

    Evmos

    Evmos, Penumbra, Oasis Network | Hidden Gems – Web 3

    League Of Kingdoms, Aurory | Hidden Gems – Gaming and Metaverse

    Orderly Network, zCloak Network | Hidden Gems – Web 3

    Sneakerheads, The Possessed NFT | Hidden Gems – NFT

    BitCraft Online, Earth from Another Sun | Hidden Gems – Gaming and Metaverse

    OnChainMonkey & RUNNER | Hidden Gems – NFTs

    • DeFi
    • Gaming and Metaverse
    • NFTs
  • Code Reviews
  • Reports
    • All
    • Altcoin Quarterly
    • Awards and Ratings
    • News and Thought Leadership
    Token Metrics Research

    Introducing Token Metrics Research

    Research & Chill: 30% Token Metrics Discount

    The Best Crypto News Sites of 2022

    The Best Crypto Analysts of 2022

    Token Metrics + CEX.IO Promotional Coupon

    Partner plan

    NEW Token Metrics Partner Plan

    NEW Token Metrics Crypto Market Indicators

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q4 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q3 2021

    • Altcoin Quaterly
    • Moon Awards
    • News and Thought Leadership
  • TV
  • Learn
    • All
    • Crypto Basics
    • Token Metrics Tutorials
    • Weekly Index Performance

    Bitcoin: Everything You Need To Know

    What is Web 3.0? Everything You Need to Know

    NEW Token Metrics Crypto Market Indicators

    Weekly Index Performance – May 26, 2022

    NFTs Explained: What Are Non-Fungible Tokens?

    Weekly Index Performance – April 27, 2022

    When Does the Crypto Market Close?

    Will Shiba Inu reach $1?

    How to Receive Crypto Alerts Through Token Metrics

    • Crypto Basics
    • Weekly Performance
  • Market Analysis
    • All
    • Market Navigator
    • Market Update
    Crypto vs. Stocks

    Stocks vs. Crypto and Commodities Top? | Market Update

    Market Update

    Buy Fear in August for a Better September? | Market Update

    Market Update

    Is it a Dip, a Top, or a Range? | Market Update

    Market Update

    Reversal of Fortune: How Long Can the Rally Last | Market Update

    The Ghost of Lehman Brothers | Market Update

    BTC & ETH Road map, July – October 2022 | Market Navigator

    The Next Stage and a Look to the Future | Navigator

    DXY and Revised 2022 Road Map | Navigator

    BTC Monthly Chart, ETH Summer Roadmap, Q&A | Navigator

    • Market Update
    • Price Prediction
    • Market Navigator
  • Deep Dive
  • Hidden Gems
    • All
    • DeFi
    • Gaming and Metaverse
    • NFTs
    • Web 3
    Azuki NFTs

    Azuki | Hidden Gems – NFT

    LonelyPop

    LonelyPop, POTATOZ By 9GAG | Hidden Gems – NFT

    Moonrunners, Disco Kittiez | Hidden Gems – NFT

    Evmos

    Evmos, Penumbra, Oasis Network | Hidden Gems – Web 3

    League Of Kingdoms, Aurory | Hidden Gems – Gaming and Metaverse

    Orderly Network, zCloak Network | Hidden Gems – Web 3

    Sneakerheads, The Possessed NFT | Hidden Gems – NFT

    BitCraft Online, Earth from Another Sun | Hidden Gems – Gaming and Metaverse

    OnChainMonkey & RUNNER | Hidden Gems – NFTs

    • DeFi
    • Gaming and Metaverse
    • NFTs
  • Code Reviews
  • Reports
    • All
    • Altcoin Quarterly
    • Awards and Ratings
    • News and Thought Leadership
    Token Metrics Research

    Introducing Token Metrics Research

    Research & Chill: 30% Token Metrics Discount

    The Best Crypto News Sites of 2022

    The Best Crypto Analysts of 2022

    Token Metrics + CEX.IO Promotional Coupon

    Partner plan

    NEW Token Metrics Partner Plan

    NEW Token Metrics Crypto Market Indicators

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q4 2021

    Best Altcoins of 2021 | Altcoin Quarterly Report | Q3 2021

    • Altcoin Quaterly
    • Moon Awards
    • News and Thought Leadership
  • TV
No Result
View All Result
No Result
View All Result
Home Reports News and Thought Leadership News

1 Million $ETH Burned – Is Ethereum Deflationary Yet?

by Jacob Koch-Gallup
2022/04/14
in News, News and Thought Leadership
Reading Time: 2 mins read
0
eth-burned
0
SHARES
16
VIEWS

Since the implementation of the London hard fork, EIP-1559 in August, the Ethereum network has burned over 1 million Ether ($ETH), or at current prices equivalent to around $4.7 billion. 

The burning of $ETH means that the token has been intentionally removed from circulation by being sent to an unusable address or a burn/eater address, where it cannot be accessed by anyone and is essentially “burned” forever. As part of the EIP-1559 protocol, the Ethereum fee market was modified to limit gas fees and introduced the burn fee which takes a portion of transactions fees on the blockchain out of circulation.

Now, what projects are burning Ethereum? If you look at the handy graphic from CryptoRank, we can see the top 10 Ethereum burners.

This token burn is actually a good thing for the ecosystem because it is artificially depressing the supply of Ethereum. Basic economics tells us that with the same demand for Ethereum and less supply, the price of $ETH should go up. But, the real question is whether Ethereum is deflationary yet, or in other words, more $ETH being burnt than created, which will really drive the price of $ETH?

At current rates, around 4 million $ETH is burned every year. However, the blockchain currently emits about 5.4 million $ETH per year. Therefore, the Ethereum network is still inflationary on a net basis.

However, fear not because once the Ethereum 2.0 upgrade goes live, Ethereum will officially be a deflationary asset. This is because the upgrade includes a network transition from a proof-of-work consensus to a proof-of-stake consensus, where the staking rewards will be far lower than mining rewards. As a result, the blockchain’s emission rate will be below its burn rate, thereby creating a deflationary ecosystem.

Tags: Freenews
Jacob Koch-Gallup

Jacob Koch-Gallup

Jacob Koch-Gallup, Investment Analyst & NFT Specialist at Token Metrics

Related Posts

Token Metrics Research
News and Thought Leadership

Introducing Token Metrics Research

July 9, 2022
News and Thought Leadership

Research & Chill: 30% Token Metrics Discount

July 9, 2022
Awards and Ratings

The Best Crypto News Sites of 2022

June 16, 2022
Next Post
2017-bitcoin-breakthrough

2017: Bitcoin's Breakthrough – Chasing Bitcoin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

COMPANY

  • About Us
  • Contact Us
  • Privacy Policy
  • Sitemap

7600 Chevy Chase Drive, Suite 300, Austin, Texas, 78752, USA
Email: info@tokenmetrics.com | Tel: +1-888-908-6536

DISCLAIMER

Token Metrics Media LLC is a regular publication of information, analysis, and commentary focused especially on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies.

Token Metrics Media LLC does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Token Metrics Advisers LLC registered as an investment adviser or broker-dealer in any jurisdiction.

Information contained herein is not an offer or solicitation to buy, hold, or sell any security. The Token Metrics team has advised and invested in many blockchain companies. A complete list of their advisory roles and current holdings can be viewed here: https://tokenmetrics.com/disclosures/

Token Metrics Media LLC relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information. Additionally, Token Metrics Media LLC does not provide tax advice, and investors are encouraged to consult with their personal tax advisors.

All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Ratings and price predictions are provided for informational and illustrative purposes, and may not reflect actual future performance.

Copyright © 2022 - Token Metrics - All Rights Reserved

No Result
View All Result
  • Learn
    • Crypto Basics
    • Weekly Performance
  • Market Analysis
    • Market Update
    • Price Prediction
    • Market Navigator
  • Deep Dive
  • Hidden Gems
    • DeFi
    • Gaming and Metaverse
    • NFTs
  • Code Reviews
  • Reports
    • Altcoin Quaterly
    • Moon Awards
    • News and Thought Leadership
  • TV

Copyright © 2022 Token Metrics All Rights Reserved