Ethereum turns deflationary as validators exit and defi transactions drop 57%
Ethereum’s supply turns deflationary amid a decrease in validator participation and declining NFT and defi transactions . The recent dynamics of Ethereum’s blockchain network signal a significant shift towards deflation, according to data from Glassnode. This is driven by a combination of reduced validator participation and increased network activity. A notable increase in validators exiting the Ethereum staking pool since October has contributed to a slowdown in the growth rate of ETH issuance. This trend correlates with the broader bullish sentiment across digital asset markets. The growth rate of the #Ethereum validator set has slowed in recent weeks as an increasing number of validators voluntarily exit, slowing the rate of ETH issuance. Alongside increasing ETH burnt via EIP1559 due to growing network activity, the ETH supply has turned… pic.twitter.com/xMrQRe7opO — glassnode (@glassnode) November 28, 2023 You might also like: Spain enforces ...