Hi HODLers, Lions and Hiveans,
Ethereum moved to Proof of Stake (POS) almost a year ago: on September, 15th.
As the transition was quite smoothed and we got used to getting that juicy yield of between 3-4% and having many easy to access services such as Centralized Exchanges / DEX solutions or even some TradFi apps such as Revolut offering acces to an easy stacking solution.
Since then:
- 680k $ETH were minted
- 980k $ETH were burned.
We burned 300k Ethereum in a single year or approximately 0.25% of the current supply. Impressive and truly deflationary!
"The reduction of gas [transaction] fees now appears to be the critical missing building block that the next upgrade – called EIP-4844 is trying to solve,"
Thie EIP waims to reduce gas fees and increase transation throughput by introducing blobs for data. This upgrade should happen later this year.
In the meantime, enjoy the juicy yields!
Stay safe,
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I still remember how few actually believed Ethereum was going to hell after the POS transition and here it is working fine(still not a banger when it comes to fees) and probably next year it will get to a $10,000 per coin valuation.
Wow, that's a strong number. And I believe that during a bull run, the scarcity that burning provides might push the price quite high. New ATH!!!
This is exactly what I was thinking about. This happened during a quite market cycle. What would it be once we have another Bull Run!