The burn rate of Ethereum has reduced due to the decline in fees generated on the network and has increased ETH in supply.
This upgrade reduced Ethereum’s burn rate, leading to a slowdown in the rate at which Ether is removed from circulation.
This significant reduction in fees burnt accounts for the observed uptick in Ethereum’s total supply, indicating a shift in its deflationary dynamics.As of this writing, the total fees were around $3.6 million, contrasting sharply with the peak recorded in March, which stood at approximately $7.8 million.The increase in exchange supply began before the total supply started to rise, with the growth, observed between March and press time, amounting to over 3 million Ether.
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