Ethereum Merge May Not Be Immediately Deflationary, Crypto Trading Firm QCP Says

The average daily burn recently declined to a record low of 1,206 ETH per day. That’s barely 9% of the record daily burn of 13,269 ETH registered in January. Meanwhile, 13.6 million ETH, amounting to 12% of the circulating supply of 120 million ETH, is locked in the Beacon chain, according to data tracked by blockchain analytics firm Glassnode.

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