New ETH issuance drops 92,8% after network upgrade
The growth in the number of transactions increased the amount of the average fee
![New ETH issuance drops 92,8% after network upgrade](https://storage.getblock.net/source/1/xv1Wi6MrhmLbmUJXT1w_3I0BQpJLWbzt.webp)
21.09.2022 - 14:15
336
1 min
0
What’s new? Within a short period after the Ethereum blockchain switched to the Proof-of-Stake (PoS) consensus algorithm, daily ETH issuance decreased by 92,87%. The figure dropped from 48 400 coins to 3893. According to the observations of experts of the analytics company Glassnode, the growth in the number of transactions immediately after the upgrade triggered an increase in the amount of the average fee. This led to a deflation within 12 hours.
What else does the report say? According to analysts, there are currently more than 429 600 active validators on the Ethereum network. More than 11 360 validators were added to the network in just September, indicating growing investor confidence as the risk of technical issues associated with the upgrade decreases.
Experts noted that most of the ETH in staking is held by various providers and amounts to 10,071 million coins (69,04% of the total). The top four service providers — Lido, Coinbase, Kraken, and Binance — manage a combined 8,18 million ETH, accounting for 56,08% of the total.
As of September 21 at 13:50 UTC, the asset is trading at $1329,66, having lost 2,08% overnight, according to Binance.
To learn how major crypto services hinder the decentralization of Ethereum, see GetBlock Magazine's article.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024