Ethereum (ETH) issuance turned deflationary over the weekend amid a market-wide rally.

ETH supply growth is roughly -0.10% per year — 622,000 ETH issued yearly and 739,000 ETH burnt yearly — according to Ultrasound.money data.

In a simulation where ETH continued to utilize the Proof-of-Work (PoW) mechanism, supply would be up a further 1.45 million ETH  — an increase of roughly 4% to the network — according to Ultrasound.money’s ‘Simulate PoW’ function.

However, the merge event — and switch to Proof-of-Stake mechanism — has removed 32 ETH from the asset’s total supply, switching ETH back to deflationary.

(By Oluwapelumi Adejumo)