In a landmark move for the world of cryptocurrency, the supply of Ethereum has been reduced by 66,000 ETH in 2023
Highlights
- Supply of ETH has been reduced by 66,000 ETH in 2023, according to market intelligence platform IntoTheBlock.
- This comes as a result of the transition to proof-of-stake (PoS) consensus that took place in September 2022.
- With the new consensus mechanism, a fraction of ETH transaction fees is being burnt.
- This has made ETH deflationary, which is great news for crypto enthusiasts seeking scarce digital assets.
- As of the time of writing, the ETH price is hovering around $1,816.52 per coin.
- The asset’s price registered solid growth in the last 7 days, rising by 26%.
Read the original article
Fidelity Now Offers Bitcoin Trading for Its Customers