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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.
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Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.
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).
