@d12321 26 October 2022 more from that month

Ethereum token offer is expected to fall below the level preceding the merger. The offer of ( ETH ) tideen ester seems to tend to decline to levels prior to the merger, as a result of the fact that more tokens have been burned over the past few weeks than created, as network data show. Find out the news first in ours Telegram - канале During the merger of September 15, the transition of Ethereum from Proof-Work to the consensus of Proof-of-Stake, the ETH proposal was 120,520,000 tokens. After the merger, the offer grew to 120,534,000 tokens on October 8, but since then has fallen to 120,522,000, and now it’s only a couple of thousand tokens more than the offer, registered at the merger. This deflationary trend arose due to the fact that in recent weeks more tokens for transaction fees have been burned than was created as a reward for validators. « Since the emission is now significantly reduced compared to the period before the merger, even a small increase in the burned ETH compared to recent levels will make daily net emission negative », — said Kevin Pan, research analyst at The Block. Deflationary offer after merger One of the many changes compared to The Merge is a 90% reduction in new tokens amid the abolition of subsidies to miners in the former blockchain with proof of work. In combination with the EIP-1559 function in Ethereum, where part of the commission for the transaction or gas « is burned », it is believed that more ether is destroyed than added to the supply, when the transaction fee exceeds 16 gwei, the trend itself is observed. currently. Actually, according to the data Ultrasound.money, the offer is only 1700 ETH from reaching the level before the merger and is constantly decreasing. If this trend continues, and the burning of commissions remains more than the new issue, we can see a drop in supply growth below the level before the merger in the next few days, noted DeFi researcher Mika Honkasalo. « The general change in supply after the merger will become negative in the next 5-7 days », — wrote Honkasalo in Твиттере . Change ETH offer after merge. Image: Ultrasound.money While the average transaction fees for transactions remained low for some time after the merger, from October 8 they increased along with a surge in activity on Ethereum. The increased activity is due to the introduction of freely requested token called XEN. This is a token that anyone can apply for while applicants pay a commission for the Ethereum transaction, and he effectively spam blockchain for several weeks. Later, large volumes of trading around new memeons also contributed to an increase in transaction volume and an increase in fees, both of the usual rewards of validators and the recoverable value of miners, which led to an increase in the amount of burned ether. Currently, the average commissions range from 20 to 30 gwei, and this is more than enough to burn a lot of ether every day and a deflationary offer. The number of ETH burned on a particular day depends on network activity, since the base commission is adjusted depending on how crowded the blocks are, and a larger number of transactions in general simply means more burned commissions.