As of Nov 29, over 80% of deflationary gains have been wiped out, pushing ETH back towards inflation.
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).
