Ethereum Inflation Drops Due To This Reason

Ethereum remains in the spotlight. It’s been reported that Ethereum’s daily issuance rate fell below the one of Bitcoin for the first time this week, according to a blockchain researcher.

As the online publication, the Daily Hodl notes, Lucas Outumuro, head of research at blockchain intelligence firm IntoTheBlock, said that Ethereum’s (ETH) net inflation fell to an annualized rate of 1.11% compared to Bitcoin’s annualized rate of 1.75% during the middle of this week.

He continued and explained the following:

Also, it’s important to note the fact that Outumuro says that the deflationary pressures on Ethereum will help the second-largest cryptocurrency become a store of value.

“As NFTs and other applications continue to grow on Ethereum, this creates deflationary pressure and reinforces Ether’s monetary premium. Ultimately, this aligns users and holders towards ETH becoming the store of value of the decentralized internet.”

Ethereum has been making headlines a lot these days due to its price surge and more.

Ethereum experiences chain split

Earlier today, we revealed that Ethereum experienced a chain split due to a number of network validators, also called nodes, failing to upgrade their software.

A few days ago, the dev team behind the popular Ethereum software client Geth released an emergency hotfix to a security vulnerability in its code that would have prevented certain users from producing blocks.

Previous ArticleEthereum Faces Chain Split After Node Operators Fail Geth Hotfix UpdateNext ArticleSolana’s SOL Is Now One Of The Biggest Cryptos By Market Value
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
Exit mobile version