ETH deflationary gains erased post-FTX collapse ETH deflationary gains erased post-FTX collapse
As of Nov 29, over 80% of deflationary gains have been wiped out, pushing ETH back towards inflation.
2 min read
Updated: Nov. 30, 2022 at 1:45 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum (ETH) recently became the most deflationary it had historically ever been amid the FTX collapse, reaching a deflationary percentage of -0.00514%, but as of Nov 29, ETH has lost almost all deflationary gains.
ETH now sits at a deflationary percentage of -0.00090%. This loss of deflationary gain equates to over an 80% retracement back toward inflationary ETH percentages.
Furthermore, the total volume of ETH burned via the EIP1559 BASEFREE burn mechanism is currently at an all-time low (ATL).
Despite the fall in deflationary gains and the current ATL burn volume, ETH addresses with a balance equal to or greater than 32 ETH are however at an all-time high (ATH).
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.