Hi!
This is my first community post, so please don't roast me down to hell. English is also not my primary language. :)
As we all know today/tomorrow is/will be directly 1 year after Ethereum switched to the Staking protocol, called by "The Merge".
It took Ethereum team over 2 years(1st December 2020 was official start of Beacon Chain) to actually switch from mainnet to Beacon Chain.
With switching from POW to POS protocol, ETH went from HIGH energy consumption blockchain to green energy, with energy consumption reduced up to 99,95%.
For any newcomers, you can read more about that on official Ethereum website under section roadmap/merge.
Before POS was introduced, ETH was inflationary coin with around 3.15% inflation per year.
In this post I would just like to touch a bit into statistics of the past year how ETH went from inflationary coin to deflationary coin.
In the past year:
679.000 ETH was issued
981.000 ETH was Burned
OVERALL: -302.000 ETH
That means YTD change was -30,80%!!
In current market situation that means: 489.240.000$ of ETH was burned for good :)
Total supply dropped in the last year because of deflation for overall; 0,25%.
(currently we stand on 120.221.082 ETH)
Comparison, if Ethereum would still be working under POW protocol:
With predicted ETH inflation of 3.15% we would today have total supply of : +3.797.100 ETH.
Shout out to ultrasound.money , where you can see and find out even more detailed statistics about ETH!!
Summary:
ETH is being deflationary through bear market. As known in bear market activity on blockchain drops significantly and GAS fees are usually pretty low.
With higher activities means higher GAS fees, which means even more ETH is being burned. So if I can predicted a bit in advanced, I would say ETH is heading in right and exciting direction!
TLDR!
In last year, we saw a total supply of ETH decreased by 302.000ETH, caused by switching protocols from POW to POS.
Feel free to add more of statistics under comments.
Thanks for reading!
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