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Ethereum's recent Dencun upgrade, aimed at reducing fees and scaling the network, has inadvertently shifted Ether from being a deflationary to an inflationary asset. This change undermines the deflationary mechanism introduced by the 2021 London Hard Fork, which burned a portion of network fees. The upgrade has significantly reduced transaction fees by 4 times and lowered Ethereum gas fees to their lowest since 2020, reaching ATL's. Despite the reduction in fees, the total transactions on Ethereum's mainnet have reached all-time highs, indicating increased scalability. Additionally, activity has shifted from Ethereum's base layer to its layer 2 networks.
$ETH has turned inflationary for the past few weeks after the Dencun upgrade But, Total TXs on mainnet have increased to ATH's while fees reduced to ATL's, seem to have decoupled from eachother, Ethereum is much more scalable today Data from @jjcmoreno https://t.co/3zWs1yd4pf
$ETH has turned inflationary for the past few weeks after the Dencun upgrade But, Total TXs on mainnet have increased to ATH's while fees reduced to ATL's, seem to have decoupled from eachother, Ethereum is much more scalable today Data from @cryptoquant_com https://t.co/HK6DA6Rk4x
Ethereum’s Dencun upgrade is making ETH inflationary, as per @cryptoquant_com! Before the upgrade: Higher network activity → Higher fees burned → Lower $ETH Supply. Since the Dencun upgrade: 👉Total amount of $ETH burned is no longer dependent on network activity. 👉Due to…
