The supply of Ethereum's native coin, ether, has declined by more than 100,000 coins since The Merge moved Ethereum to a more environmentally friendly proof-of-stake consensus mechanism. If Ethereum had remained secured by miners, the supply of ether would have increased by more than 2.52 million coins, or $4.9 billion. Instead, post-Merge Ethereum's coin supply is down by 0.144% per year, and $1.2 billion is being removed from the ether supply over the same time frame. Ethereum Improvement Proposal 1559, pushed via the London upgrade, triggered the burning of ether, which has also decreased the blockchain's total supply. Since London went live, the total supply of ether has increased by 3.21 million coins. (TheBock)