Ethereum (ETH) Price Turns Deflationary Even Before The Merge, Heres Why
EthereumEthereum (ETH) Price Turns Deflationary Even Before The Merge, Heres Why08 / 29 / 2022Balita ng Ethereum ng Bitcoin Ethereum (ETH) price is set to be deflationary after the Merge due to the EIP-1559 burning mechanism. However, the ETH price continues to dive below $1500 even before the Merge. The pressure is due to whales selling their ETH holdings, Fed Chair Jerome Powells rate hikes cues, and almost $2 billion in options expiry on September 30. Ethereum (ETH) Price Plunges Below $1500 Before the Merge Ang Ethereum ay magiging isang deflationary cryptocurrency after the Merge, with expectations of a 90% reduction in ETH issuance. Ayon sa data by on-chain platform OKLink, over 2.6 million ETH have been burned since the implementation of the EIP-1559 in August last year. The total ETH burned until now is worth over $8.5 billion. Also, the anual inflation rate of Ethereum has fallen 50.77% since the implementation of EIP-1559. Bukod dito, whales are selling their ETH holdings on expectations of the deflationary nature of Ethereum post-Merge. The non-exchange whales seem to be selling their Ethereum (ETH) holdings, whereas the ETH supply held by exchanges has increased in August. This means whales are bearish on the Ethereum (ETH) price after the