The cost of ETH Gas has skyrocketed, and the Ethereum network has been issued with negative supply for a week

With the highly anticipated London upgrade, the destruction mechanism was introduced in early AugustEthereumIn the fee market, every transaction executed on the network after that will destroy a small amount of Ether.

As gas prices remain high,EthereumThe network has been deflationary for 7 consecutive days, which means that the ETH 多於通過挖礦創造的 ETH。為了讓以太坊持續生產通縮區塊,gas 價格必須始終保持不變大約在 150 gwei 以上。

The cost of ETH Gas has skyrocketed, and the Ethereum network has seen negative supply issuance illustrations for a week in a row

EthHub co-founder Anthony Sassano commented that until the "merger"-the Ethereum blockchain will merge with Eth2's beacon chain (currently expected to occur in the first half of 2022), it is not expected to There will be a deflationary Ethereum.

According to data from the Ultrasound.Money fee burn tracker, approximately 15,000 ETH ($65 million at current prices) is destroyed every day.Taking into account the speed of new ETH creation, WatchtheBurn reports that the weekly net issuance at the time of writing is negative 8,034 ETH (approximately $34 million).

Since the London upgrade, more than 724,400 ETH worth $3.1 billion have been permanently destroyed.

According to Etherscan, the average cost of ERC-20 token transfer is now $46.Doing some more complicated things, such as providing liquidity for the DeFi protocol or exchange tokens on Uniswap, may currently cost as much as $140.

According to Bankless Ethereum Q3 Internet reports that the transaction value settled from July to September this year was as high as US$536.5 billion, an increase of nearly 400% over the same period last year.

Although Ethereum has ushered in its first deflationary week, many Ethereum advocates are seeking to encourage users to migrate to use its emerging second-tier ecosystem for transactions.

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