Ethereum Sees 16,913 ETH Net Issuance in a Week: Total Supply Reaches 120.7 Million

COINOTAG News reports for April 27th that recent data from Ultrasound.money reveals a notable uptick in Ethereum’s net issuance. Over the past week, the network experienced an increase of 16,913 ETH, comprising an overall net issuance of approximately 18,219 ETH. During this period, 1,305 ETH were effectively burned via the network’s burning mechanism. This vital action contributes to Ethereum’s {strong}deflationary characteristics, further influencing market dynamics. Presently, the total supply of Ethereum has reached an impressive 120,715,598 ETH, while the current annual supply growth rate stands at 0.731%. Such metrics are essential for investors seeking to understand the ongoing evolution of Ethereum’s economic model and its long-term viability in the crowded cryptocurrency space.