Ethereum Deflationary Value Reached $16 Million in January

ETH CRYPTO_NEWS

Ethereum has seen a significant drop in its supply over the past month, with a net decrease of 10,145.72 ETH and a deflationary value of approximately $16 million. A deflationary network can have implications for the cryptocurrency’s value, as a decrease in supply can increase demand, driving up the price More ETH Burned Than Minted Deflation in the context of Ethereum refers to a decrease in the overall supply of ETH tokens. This occurs when the amount of ETH being removed from circulation, through processes like token burning, is greater than the amount being created newly minted tokens awarded to validators.

 

 The recent net decrease in supply of 10,145.72 ETH marks a continuation of a trend that has been ongoing for some time, as the annual growth rate of the Ethereum has dropped to -0.012%, according to data from Ultrasound Money. Source: Ultrasound Money This development has sparked interest among experts and investors alike, who are now exploring the potential causes and implications of this trend. Some believe that the decrease in the supply of ETH could be a sign of increased demand for the currency, as investors seek to acquire a larger stake in this valuable asset. Others argue that the trend may be driven by economic factors, such as a rise in the number of people who are holding their ETH for the long term, rather than trading it on the market. Regardless of the cause, the decrease in the supply of Ethereum has attracted significant attention, as the current total supply of the currency stands at 120,515,722 ETH. 

 

 

Ethereum Price Hangs by a Thread The declining token supply has also been accompanied by a drop in the overall market value of the currency, which has fallen 67.50% from its all-time high of $4,877 to approximately $1,570, at the time of writing. Source: TradingView The significant dip in the price of Ethereum could extend as market analysts anticipate that the upcoming Shanghai upgrade may encourage holders to rush to exchanges to liquidate around 1 million ETH from staking rewards. Despite these recent developments, the Ethereum community remains optimistic about the future of the currency. Many experts believe that the underlying technology behind ETH will continue to evolve and drive new innovations in the crypto space. And developers continue working on improving the scalability and security of the network, which is expected to drive further growth in the coming years. The post Ethereum Deflationary Value Reached $16 Million in January appeared first on BeInCrypto. 

 

Source : [Ethereum Deflationary Value Reached $16 Million in January](beincrypto.com/ethereum-deflationary-value-reaches-16-million-in-january/) by Ali M. - BeInCrypto by Ali M. / February 01, 2023

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata ICO Limited, a Company incorporated in Ireland with its registered office at 3rd Floor Ormond Building, 31-36 Ormond Quay Upper, Dublin 7, D07 Ee37, Ireland registered in Ireland under number 690280 has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing, we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS.

Automata ICO Limited, a Permanent Establishment incorporated in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.