The second largest cryptocurrency, Ethereum which recently switched from proof of work (PoW) to proof of stake (PoS) has found its ground for the first time since its upgrade. The ultrasound.money suggests that Ethereum’s annual inflation rate has plunged to 0.029% which states that the network’s ether burning rate has surpassed the rate of minting.
Now, this negative inflation is pointing towards Ethereum’s net supply which has dropped by 5,598 since the network upgrade on September 15. As per the findings, if Ethereum had continued with PoW the supply would have increased by around 670,000. This is because the upgrade has replaced miners with validators which has pulled down the ETH mint.