Ethereum won plaudits and the spotlight two weeks ago for smoothly pushing through its much-hyped Merge, a historic shift to a different “proof-of-stake” blockchain system designed to drastically reduce energy consumption – roughly 99% by some estimates.
Now, the second-biggest blockchain appears to be proving itself on another promise of the Merge: greater inflation-resistance, a characteristic that’s usually more closely associated with Ethereum’s bigger and better-known rival, Bitcoin.
In the days since the Merge, the annualized net issuance rate of Ethereum’s native cryptocurrency, ether (ETH), has fallen to a range of 0% to 0.7%, estimates Lucas Outumuro, head of research at crypto data and analysis firm IntoTheBlock. That compares with about 3.5% prior to the Merge. The net issuance rate, also referred to as the inflation rate, is essentially the new supply divided by the existing supply.
The website Ultra Sound Money puts the annualized inflation rate at 0.19%, based on data...
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