Ethereum Enjoys First Deflationary Period Post-merge

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• Ethereum has enjoyed its first deflationary period since its Proof-of-Stake switch
• Last August’s EIP-1559 upgrade kick started the delfationary aspect of the Ethereum 2.0 upgrade
• The deflation rate cannot overcome bear market dynamics, but it should help price if it continues

Ethereum has enjoyed its first spell as a deflationary currency, with more ETH being burned since the weekend than was being created. This bears out the intentions of the EIP-1559