Ethereum’s Supply Surges: Net Increase of 7,663 ETH Amid Destruction Mechanism

According to COINOTAG, data from Ultrasound.money reveals a notable shift in Ethereum’s supply dynamics as of October 22. Over the past week, the net supply of Ethereum has seen an increase of 7,663 ETH, driven by a total supply growth of approximately 18,332 ETH. This increment was partially offset by the destruction mechanism, which eliminated 10,668 ETH from circulation. Currently, Ethereum’s total supply stands at 120,390,393 ETH, with the annual supply growth rate declining to 0.332%. This data underscores the dual forces at play within Ethereum’s ecosystem, where ongoing issuance contrasts with an active burning mechanism aimed at reducing available supply, thus influencing market dynamics and long-term valuation.