Ether rallied 16% last week, registering its biggest gain since July. The recent positive change in ether's tokenomics are helping the cryptocurrency outperform industry leader bitcoin. Reports godbole17
Smart contract platform Ethereum's recent technological overhaul is beginning to have an intended bullish effect on its native token ether's price.
Since the switch, Ether's supply has increased by 1,300 tokens. The net-supply increase would have been more than 481,000 had the blockchain continued to use the PoW mechanism.Ether's net issuance, also known as annualized inflation rate, has declined from 3.6% to nearly 0%, falling below bitcoin's 1.7%, according to data sourced from ultrasound.money.
So, as Olszweicz said, an increase in network usage will further skew demand-supply dynamics in favor of ether bulls. Since early August last year, over 2.6 million ETH worth $8.65 billion has been taken out of circulation, according to ethburned.info. Tang added that"bitcoin would continue to face supply overhang from miners with bitcoin price here [around $20,000]."Cumberland
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