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Ethereum Supply Now Exceeds Its Entire Initial Market Cap at Launch

Crypto NewsEthereumRegulation/Negotiation 1 Linda Williams August 16, 2024

An illustration of an overflowing champagne bottle with 120 million bubbles rising into the air as they burst through its cork; in the background, two large coins are shown: one is broken apart by cracks while the other has a crack spreading across it; above them, three smaller coins float upwards amidst more bursting bubbles. The scene takes place against a dark blue sky filled with stars and moonlight shining down on everything. In the foreground, there's an abundance of scattered champagne corks that resemble tiny shards or fragments as if they've been shattered by some unseen force.

The great Ethereum experiment is continuing with all its might – or should I say, with an ever-increasing amount of issued Ether? It seems like the platform’s proof-of-stake consensus mechanism has brought about not only security and participation rewards for users but also a healthy dose of issuance that would make any central bank jealous. And let me tell you, it’s not just staking – restaking is where things get really exciting! Users are locking up their Wrapped Ether (WETH) like there’s no tomorrow, and the TVL on platforms like EigenLayer has seen an 11% boost in one week alone. It’s a real party out there

Source: cointelegraph

Ethereum supply surpasses 120M ETH as staking, restaking surge
https://cointelegraph.com/news/ethereum-supply-120m-ether-staking-issuance-surge
The decentralized open-source blockchain platform Ethereum has recently hit a significant milestone as the total supply of Ether reached 120 million. The development comes as both staking and restaking Ether (ETH) witness a surge in uptake, further reinforcing its proof-of-stake (PoS) consensus mechanism. According to the latest data on Ultrasound.money, ETH supply has increased to approximately 120.28 million ETH, with 77,091 ETH issued over the last 30 days. Ultrasound.money data […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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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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