Ethereum

Solana

Merge

Strong

<ul>
 <li>The overall supply of ether dropped to its lowest level since August 2022.</li>
 <li>With a total of fewer than 1.12M ETH issued, almost 1.56M ETH has been burnt since Merge.</li>
</ul>
The pace of decrease in the ether supply is also at its quickest since May 2023. According to statistics from <a href="https://ultrasound.money/" target="_blank" rel="noopener noreferrer nofollow">ultrasound.money</a>, the supply of ether has been decreasing at a rate of 0.872% per year during the previous 30 days. To put that in perspective, the rate of decrease has been 0.246% since The Merge itself.
Dencun, the most recent update to <a href="https://thenewscrypto.com/why-ethereum-price-drops-post-dencun-upgrade/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, went live on March 13. However, the overall quantity of ether was reduced significantly by the last high-profile upgrade, The Merge.
Cited by CNBC, data from <a href="https://cryptoquant.com/" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a> shows that the overall supply of ether dropped to its lowest level since August 2022 by mid-week. Not long after that day, Ethereum underwent its most monumental update to yet, rebranding itself as The Merge, which included switching from proof-of-work to proof-of-stake.
<h3 class="wp-block-heading" id="h-surge-in-network-activity">Surge in Network Activity</h3>
With a total of fewer than 1.12 million ether issued, almost 1.56 million ether has been burnt since The Merge. The result is a decline of around 446,000 ether, or over $1.62 billion at the current pricing, due to this.
Ethereum activity has continued to be significant, even while <a href="https://thenewscrypto.com/solana-network-witnesses-historic-surge-in-spl-token-creation/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> network activity is mostly receiving attention. Near its 12-month peak established in January, the seven-day moving average of Ethereum network transactions is getting close. Moreover, it saw 1.26 million transactions earlier this week.
On the other hand, both the year-to-date and 12-month highs for Ethereum addresses are at unprecedented levels. According to statistics from earlier this week, there were around 540,000 active Ethereum addresses.
Comparably, both the YTD and 12-month highs have been reached in the number of new addresses on the Ethereum network. There were over 120,000 newly discovered Ethereum addresses on the network earlier this week.
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Ethereum (ETH) Supply Plummets Amidst Strong Network Activity

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