{"id":16137,"date":"2024-08-15T18:49:00","date_gmt":"2024-08-15T15:49:00","guid":{"rendered":"https:\/\/forklog.com\/en\/ethereum-supply-surpasses-120-million-coins\/"},"modified":"2024-08-15T18:49:00","modified_gmt":"2024-08-15T15:49:00","slug":"ethereum-supply-surpasses-120-million-coins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethereum-supply-surpasses-120-million-coins\/","title":{"rendered":"Ethereum Supply Surpasses 120 Million Coins"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Ethereum&#8217;s annual inflation rate has risen to 0.69%.<\/li>\n<li>EigenLayer is integrating an option for active validation services to add ERC-20 tokens that can be withdrawn without permission.<\/li>\n<li>Khelp Financial co-founder and CEO Boomer Saraga claims Ethereum&#8217;s price undervalues its fundamentals.<\/li>\n<\/ul>\n<\/div>\n<p>The issuance of the second-largest cryptocurrency by market capitalization has reached 120.28 million ETH, according to <a href=\"https:\/\/ultrasound.money\/\">Ultrasound.money<\/a>. This was driven by the increase in coins locked in staking and restaking protocols.<\/p>\n<p>In the past week, the parameter increased by 18,086.4 ETH, of which 2,229.6 ETH were removed from circulation through the EIP-1559 burn mechanism. The net issuance amounted to 15,856.9 ETH, with annual inflation rising to 0.69%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeNUE0s8q7LWrnL_Lp8sSXbXZ6Mi2ANvf1YR3AzwlLDTPuq_TwRaqn5R7735b1pade8M-_B2cduEHx7Cz_WL4dYIXIV18hUhWoPtdQPgf6jrtTdcG7wCpFdXOD26ruhdpMPi66M5MmIwSWbg3aW3Je_dH0?key=7n6MDk8_DAIFI44KKE7_Lg\" alt=\"Ethereum supply surpasses 120 million coins\"\/><figcaption class=\"wp-element-caption\">Data: Ultrasound.money.<\/figcaption><\/figure>\n<p>The popularity of liquid staking and restaking platforms, due to the locking of coins in protocols, may indirectly influence the supply increase. According to <a href=\"https:\/\/defillama.com\/chain\/Ethereum\">DeFi Llama<\/a>, the <span data-descr=\"total value locked\" class=\"old_tooltip\">TVL<\/span> of sector leaders Lido Finance and EigenLayer increased by 6.4% and 2.7% respectively over the past week.<\/p>\n<h2 class=\"wp-block-heading\"><strong>New Features in EigenLayer<\/strong><\/h2>\n<p>On August 14, it was announced that EigenLayer is integrating new functionality allowing active validation services (AVS) to add ERC-20 tokens that can be withdrawn without permission, expanding DeFi capabilities.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Coming Soon: Permissionless Token Support<\/p>\n<p>What<\/p>\n<p>Eigen Labs is proud to introduce Permissionless Token Support, an upcoming update, to the EigenLayer protocol. This feature will enable any ERC-20 token to be added as a restakable asset, significantly broadening the scope of\u2026 <a href=\"https:\/\/t.co\/zvN30f9Ipc\">pic.twitter.com\/zvN30f9Ipc<\/a><\/p>\n<p>\u2014 EigenLayer (@eigenlayer) <a href=\"https:\/\/twitter.com\/eigenlayer\/status\/1823736653589918013?ref_src=twsrc%5Etfw\">August 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>For these purposes, users can utilize AVS-native tokens and stablecoins.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAVS will have the ability to fully customize their crypto-economic security profiles. They will be able to distribute work and rewards across a wide range of tokens supported by EigenLayer operators,\u201d the statement reads.<\/p>\n<\/blockquote>\n<p>The solution is currently available for private testing.<\/p>\n<p>It is expected to be activated on the Ethereum mainnet next week. User interface support for restakers is anticipated in Q3.<\/p>\n<p>The EigenDA data availability layer will be the first AVS to test the option before its official launch.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum&#8217;s Prospects<\/strong><\/h2>\n<p>Khelp Financial co-founder and CEO Boomer Saraga, in an interview with Schwab Network, highlighted a discrepancy between the price of the second-largest cryptocurrency and its on-chain data. The expert predicted the asset&#8217;s rise to <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> ETFs have been live for 2 weeks ?<\/p>\n<p>Khelp Financial CEO Boomer Saraga speaks to the flows and how they compare to the trends from <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> funds. <a href=\"https:\/\/twitter.com\/NPetallides?ref_src=twsrc%5Etfw\">@NPetallides<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a><\/p>\n<p>?\ufe0f \u201cFrom a fundamental standpoint, Ethereum is reaching all-time highs and I expect the price to follow.\u201d<\/p>\n<p>\u2014 Schwab Network (@SchwabNetwork) <a href=\"https:\/\/twitter.com\/SchwabNetwork\/status\/1823748108158738438?ref_src=twsrc%5Etfw\">August 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cFrom a fundamental standpoint, Ethereum is reaching all-time highs, and I expect the price to follow. We use key performance indicators, operational and on-chain metrics. [\u2026] There are over 2 million users on the mainnet and L2. [\u2026] Yet the price lags behind,\u201d Saraga explained.<\/p>\n<\/blockquote>\n<p>On August 13, the number of transactions processed by Ethereum&#8217;s layer-two solutions in a single day reached a record 12.52 million. The Coinbase-backed blockchain Base was a significant driver, nearing 4 million daily transactions by the end of July.<\/p>\n<p>In May, experts noted that Ethereum became inflationary again following the <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-faces-inflationary-pressure-post-dencun-update\">activation of the Dencun update in March<\/a>, which <a href=\"https:\/\/forklog.com\/en\/news\/dencun-update-significantly-reduces-fees-in-layer-2-networks\">significantly reduced<\/a> fees in L2 networks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum&#8217;s annual inflation rate has risen to 0.69%. EigenLayer is integrating an option for active validation services to add ERC-20 tokens that can be withdrawn without permission. Khelp Financial co-founder and CEO Boomer Saraga claims Ethereum&#8217;s price undervalues its fundamentals. The issuance of the second-largest cryptocurrency by market capitalization has reached 120.28 million ETH, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,46,1150,1263],"class_list":["post-16137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-ethereum","tag-news-plus","tag-restaking"],"aioseo_notices":[],"amp_enabled":true,"views":"50","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16137"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16136"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}