Ethereum Sparks Inflation Worries As New Supply Surges In Just One Month
The Ethereum supply has experienced an uncharacteristic uptick in the space of a month, raising concerns about the cryptocurrency’s inflation risk among ETH investors and community members. Ethereum Inflation Crisis Since the beginning of 2023, Ethereum, the world’s second-largest cryptocurrency has experienced fluctuating inflation rates in ETH’s money supply. According to the Ultrasound Money website, […]
Related News
While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in the costs of production are said to be the factors behind the latest increase.
Currency Depreciation Driving Inflation
According to the latest data from Nigeria’s National Bureau of Statistics (NBS), the West....
The active supply of Ethereum (ETH), measured on a 6-12 month timeframe, has dipped to its 17-month low. Data fetched by Glassnode shows that there are now over 15.1 million ETH available for accumulation even as the demand for the cryptocurrency grows ahead of its much-awaited protocol migration to proof-of-stake. At its periodic high, the […]
A new report by Bitstamp and Bytetree says bitcoin responds better to the rising money supply, rising real interest rates and a strong economy. This is in contrast to gold which appears to perform better when real interest rates are falling while inflation is rising. To support these findings, the report points to the collapse of the gold price in Q2 of 2013, after the US Federal Reserve signalled it would raise rates in the future. During that period bitcoin value surged. In fact, the report asserts “that 2013 was bitcoin’s best-ever year (5400%) and gold’s worst year....
Research firm Santiment has determined that Ethereum’s supply radius on exchange platforms is at a 28-month low. With 20.1% of ETH in its reserves, the last time the metric was at similar levels was in November 2018. Above is a look at the relationship between the increase in Ethereum supply on the exchanges and fluctuations […]
Another fiat currency struggles to stay afloat as the Venezuela Bolivar looks to be in the throes of hyperinflation, which has been forecast for at least the last 18 months. Within black-market currency exchanges, the Bolivar has lost about 50% of its value versus the US Dollar in the month of November. In a sign of desperation, the nation-state has suspended reporting of their inflation rate for the time being. Also read: "BitPagos is Bringing Bitcoin to the Developing World". Will Venezuela Suffer Zimbabwe-levels of Hyperinflation? As you may know, inflation is a part of any fiat....