We checked the market situation: Etherium is looking good today. The cryptocurrency set a new all-time high of $4,639 overnight, which remains a current record for now.

Daily chart of the Etherium exchange rate

Fundamentals are at an all-time high too, making ETH popular with the community. In particular, the number of ETH holders has increased by 28.29 per cent or 14.34 million new addresses since the beginning of 2021. According to IntoTheBlock, there are now 63.44 million addresses on the Etherium network in surplus. This is more than the total number of BTC holders, as the figure stands at 38.62 million units.

Growth in the number of Ether holders

What’s to come for Etherium

According to EthHub platform co-founder Anthony Sassano, the deflation of Etherium was a relatively unexpected development – the developers had anticipated that the mechanism would lead to a reduction in supply after the merger with Beacon Chain. However, positive results are already being seen here, reports Cointelegraph.

As a reminder, Beacon Chain is a preparatory stage for the integration of the sharding mechanism and the cryptocurrency's transition to the Proof-of-Stake consensus algorithm. After that, the network will be able to handle thousands of transactions per second instead of the current few tens.

Etherium’s current rate of combustion and inflation

According to Ultrasound.money, the average amount of coins burned each day ranges around 15,000 ETH, or about $65 million at the current exchange rate. If we consider the number of coins mined over the past week, the supply of Ether has decreased by 8,034 ETH over the week. At the same time since the integration of London a total of more than 743 thousand ETH worth 3.42 billion dollars have already been burned.

Number of coins burned since London integration

That said, the first deflationary day on the network was recorded in early September. We wrote about it in a separate article.

The first deflationary day on the Etherium network

Unfortunately, for now, Etherium can’t boast of convenience for its users. The average transaction fee on the altcoin network is measured in the tens of dollars and has yet to drop, making the coin too expensive for relatively small payments. The situation with trading on decentralized exchanges is even worse – for example, a single transaction on Uniswap will cost you at least $140 in commissions.


Miners are actively earning on this trend, as the high load on the network increases their income. It should be noted that 2Miners pool users do not pay serious commissions for their rewards when mining Etherium. Their bounty can be paid in Bitcoin or NANO, which reduces their costs manifold. Read more about the innovation in a separate article.


It is expected that the Etherium network will finally become “cheap” to use after it migrates to the second version of its protocol. The most optimistic forecasts suggest that this will only happen in the third quarter of 2022, if the developers’ plans are not impeded.

Etherium and other cryptocurrencies


We believe that this trend will have a good impact on the future prospects of Etherium. Still, under such conditions, there will be fewer and fewer coins in circulation, so the value of existing cryptocurrencies will increase. On top of that, there are plenty of upgrades coming to the Eth network that will make it much more user-friendly. So Ethereum investors clearly know what to expect.


In the meantime, you can mine ETH in 2Miners pool and chat with other investors in our cryptochat. There we will talk about all the important news affecting the decentralization industry.