Ethereum Ultra-Bullish For 2022 Following The Implementation Of EIP-1559 — Here's Why.
17 Dec 2021, 08:00
Ethereum Ultra-Bullish For 2022 Following The Implementation Of EIP-1559 — Here’s Why
The supply of Ether, the native coin of the Ethereum blockchain network may be entering a deflationary regime just like it was projected with the introduction of EIP-1559. At the moment, the controversial Ethereum Improvement proposal that shipped along with other proposals in the London Hardfork Upgrade in August is removing a remarkable 6.28 ETH per minute.
In the 131 days since EIP-1559 went live on the Ethereum blockchain, almost 1.2 million ETH (currently worth over $4.4 billion) have been burned according to Ultrasound Money. At this rate, it is estimated that 3.3 million ETH will be burned in a year.