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ETH Inflation Explodes to 0.74%: ‘Ultrasound Money’ Narrative Implodes in Spectacular Fashion – Guess Who’s Crying Now?

News Kevin Nelson October 5, 2024

A comic illustration depicting Ethereum's inflation rate as a runaway train with flames and smoke billowing out from its wheels, while Vitalik Buterin stands in front of it looking concerned, surrounded by charts showing the decline of onchain activity and burn rates.

It seems like Ethereum’s ‘ultrasound money’ narrative has finally reached its crescendo – or should I say, deflation? The inflation rate on the platform has skyrocketed to an impressive 0.74%, and all of a sudden everyone is talking about it. It’s almost as if they didn’t see this coming… Oh wait, that would be impossible because Vitalik Buterin himself co-founded Ethereum! One can only imagine his excitement at seeing his baby grow into the deflationary nightmare he always wanted to create (not really). The real question on everyone’s mind is: what took so long? Was it just a matter of time before layer-2 solutions like Arbitrum and Optimism came along and started processing transactions off the mainnet, reducing gas fees and burning less ETH in the process?.

Source: cointelegraph

Ethereum inflation rises, threatens ‘ultrasound money’ status: Report
https://cointelegraph.com/news/ethereum-inflation-surge-questions-ultrasound-money-narrative
Ethereum’s inflation rate has surged to 0.74%, raising concerns about its long-held “ultrasound money” narrative, according to Binance’s October 2024 Monthly Market Insights report. The research report indicated that the Ether (ETH) issuance rate is at its highest level in two years, as reduced onchain activity and lower burn rates shift the asset’s economic status. The findings highlight a growing issue for the asset, which Vitalik Buterin co-founded. They cast […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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