Ethereum supply surpasses 120M ETH as staking, restaking surge

Despite Ethereum’s increasing supply, stacking and restacking activities are gaining traction, enhancing network security and rewards.

Ethereum recently reached a notable milestone with its total Ether supply hitting 120 million. This uptick coincides with a rise in both stacking and restacking activities, further supporting Ethereum's proof-of-stake (PoS) consensus mechanism.

Data from Ultrasound.money shows that the Ethereum supply has expanded to approximately 120.28 million ETH, with 77,091 ETH issued in the past 30 days. Despite a burn mechanism that removed 19,438 ETH, the net supply increased by around 57,653 ETH. This results in a current annual growth rate of 0.58%, which has slightly risen to 0.69% over the past week.

Originally designed to create a deflationary effect, the ETH burn mechanism introduced in Ethereum’s London Hard Fork has been outpaced by new issuance, putting Ethereum on an inflationary path.

The shift from proof-of-work to PoS has enhanced Ethereum's network security and reward system. Currently, around 33.9 million ETH, valued at over half a trillion dollars, is staked and earning rewards. This process is further amplified by the growing trend of restaking, where users reinvest their rewards, boosting overall issuance and network participation.

source: https://cointelegraph.com/news/okx-wallet-expands-blinks-multichain-support