Summary
- "Ethereum (ETH)'s supply has surpassed 121 million ETH and continues to increase steadily."
- "A significant amount of ETH is locked in staking contracts, which is suppressing selling pressure from new issuance."
- "If future network activity does not keep pace with supply growth, there are ongoing concerns about a potential price decline."
As the supply of Ethereum (ETH) increases, staking is reported to be controlling the selling pressure.
On the 8th (local time), Carmelo Alemán, an author at CryptoQuant, stated, "As of the 8th, Ethereum's supply surpassed 121 million ETH, marking a historic milestone. Currently, Ethereum consistently issues 2,500 to 3,000 new ETH per day, and despite recent upgrades, the rate of supply increase has not slowed."
The author highlighted that a significant amount of ETH is locked in staking contracts, making it unlikely to be immediately released to the market. As a result, newly issued ETH and staked amounts are balancing each other, curbing a surge in circulating supply. The total supply on the Ethereum network, including staked ETH, amounts to approximately 157.18 million.
In conclusion, the author stated, "Thanks to the current increased supply, concerns over a decrease in Ethereum's value have lessened. Whether network activity can support this supply growth or whether excessive supply will lead to a price drop depends on future circumstances."
Suehyeon Lee
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