Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result
Home Ethereum News

Ethereum Burn Rate Flops Significantly Sparking Questions About Its Deflationary Status

Hania by Hania
August 17, 2023
in Ethereum News
Reading Time: 2 mins read
A A
0
Ethereum Burn Rate Flops Significantly Sparking Questions About Its Deflationary Status
Share on FacebookShare on Twitter
ADVERTISEMENT

Table Of Content:

  • Why Is Ethereum Burn Rate Dropping?
  • Ethereum Price Status

Ethereum burn rates have taken a toll very fast and this has left many wondering if it is any closer to being deflationary. Let us find out the details below.

Why Is Ethereum Burn Rate Dropping?

The more a cryptocurrency burns, the fewer tokens there are and the more valuable it becomes due to the rarity factor as demand overrides supply eventually. On Saturday 12th August, investors observed that the burn rate went as low as 570.54 ETH. Such figures have never been seen in the history of the Ethereum burn process with the lowest one being recorded in October 2022. The value seen here was 498.16 ETH.

Ethereum Burn Rate Flops Significantly Sparking Questions About Its Deflationary Status
Source: TradingView

 

You May AlsoLike

Mixin Network Falls Victim to $200 Million Security Breach

Mixin Network Falls Victim to $200 Million Security Breach

September 25, 2023
Grayscale’s Ether Futures ETF Application Takes Center Stage

Grayscale’s Ether Futures ETF Application Takes Center Stage

September 21, 2023

Also Read: XRP PRICE PREDICTION FOR 2023,2024,2025 AND 2030

The decreased rate of burning Ethereum could point to low returns for investors as inflation continues to peak in many countries. Taking a closer look at the information reveals that there has been a big change from Ethereum L1 to L2 solutions. The movement has reduced the burden on the Layer-1 Ethereum and as a result, reduced the transactions that make up the burn rate.

The reduced activity can also be attributed to the declining interest of institutions in investing in Ethereum. Reduced transactions by the institutions lead to a reduction in the value of Ethereum since there is a low buy-and-burn process. A range of factors such as economic conditions that change company policies may affect the interest of these organizations.

 

Ethereum Price Status

Ethereum is still leading in other sectors such as NFT sales. Therefore, despite the halving being reduced, the coin still has bullish conditions that could escalate its growth.

Also Read: SHIBA INU PRICE PREDICTION FOR 2023,2024, 2025 AND 2030

Tags: crypto newsCryptocurrenciesEthereumprice analysis
Share76Tweet48
ADVERTISEMENT
Previous Post

Grayscale CEO Stresses On The Possible Loss Of Innovation If Every Crypto Issue Is Resolved In Court

Next Post

The FED Is Stopping Interest Rate Hikes In September: Goldman Speaks

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Mixin Network Falls Victim to $200 Million Security Breach
General News

Mixin Network Falls Victim to $200 Million Security Breach

September 25, 2023
Grayscale’s Ether Futures ETF Application Takes Center Stage
Ethereum News

Grayscale’s Ether Futures ETF Application Takes Center Stage

September 21, 2023
Top Analyst Predicts Ethereum Price Before Bitcoin Halving
Ethereum News

Top Analyst Predicts Ethereum Price Before Bitcoin Halving

September 12, 2023
G20 Proposals Shed Light On India’s Crypto Approach, No Indication Of A Ban
Bitcoin News

G20 Proposals Shed Light On India’s Crypto Approach, No Indication Of A Ban

September 11, 2023
Crypto Market: A Pivotal Week To Define The Year’s Bullish Or Bearish Trend
Bitcoin News

Crypto Market: A Pivotal Week To Define The Year’s Bullish Or Bearish Trend

September 11, 2023
Cathie Wood's ARK, VanEck Applied For The First US Ether Spot ETF
Ethereum News

Cathie Wood’s ARK, VanEck Applied For The First US Ether Spot ETF

September 7, 2023
Next Post
The FED Is Stopping Interest Rate Hikes In September: Goldman Speaks

The FED Is Stopping Interest Rate Hikes In September: Goldman Speaks

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    201 shares
    Share 80 Tweet 50
  • XRP’s Path To Success: 3 Reasons Ripple Could Explode In 2023

    198 shares
    Share 79 Tweet 50
  • Elon Musk’s Silence And Its Impact On DOGECOIN

    194 shares
    Share 78 Tweet 49
  • 3 Cryptocurrencies To Avoid Trading In The Upcoming Week

    194 shares
    Share 78 Tweet 49
  • Grayscale vs. SEC Decision Boosts XRP

    194 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2023 CryptoMufasa - All Rights Reserved!

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2023 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Table Of Content:

×
  • Why Is Ethereum Burn Rate Dropping?
  • Ethereum Price Status
→ Index
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.