ETH supply (requested discussion)
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I am surprised there is not more discussion about the coming ETH supply shock post merge. I'm not sure what the short term implications on ETH price and gas fees are going to be. But long term, the issuance will have to equal average burn rate; as there is not an infinite supply to keep burning. The estimated ETH issuance will be around 1,600/day. Currently we are burning around 10k ETH a day (current issuance 14-15k). With the current ETH burn structure from EIP-1559, burning 1,600 ETH/day would require an average base fee of 16…….with half full blocks that is only 606,000 transactions per day. Using the current network demand of $60,000,000 in fees per day; for 600k transactions to produce $60 million in fees, the ETH price would be $37,500 with an average transaction cost of $99.00. submitted by /u/TOTHEMOON91267 |
