The rate at which the Ether supply is deflating recently reached its highest level of the year. On Wednesday, the Annualized EIP-1559 Burn Rate surpassed the ETH Issuance Rate by 1.425%, the most since a quirk last May where the deflation rate rose above 17% for just one day.
When the deflation rate increases, that means that individual ETH tokens are becoming scarcer at a faster rate. Most analysts think this ought to boost the cryptocurrency’s price in the long run….
Read More: Ethereum’s Deflation Rate Hits New Yearly Highs – Here’s Where the ETH Price is Headed Next