Deflation on the Ethereum network is ramping up as the supply has dropped to a record low six months after The Merge. Since the milestone event happened just under six months ago, the ETH supply has dropped by nearly 63,000. The current supply stands at about 120.45 million ETH.

The currency burn rate of the market’s second-biggest token is 1,233K ETH over the last 30 days. Supply growth, meanwhile, is at -0.45% over 30 days.

At these rates, the Ethereum supply is projected as 118.1 million by the year 2025. Issuance rewards for stakers will stand at around 4% per year, trumping the burn rate for non-stakers, which is 1.8% per year. The supply should also have a pearl of 120.6 million ETH at current levels over the next two years.

(By Rahul Nambiampurath)