Ethereum once again approaching a record price

Ethereum

 

Ethereum, which some have been quick to write off after switching to the Proof-of-Stake consensus mechanism and implementing the Pectra update, is showing notable growth. Over the past week, the ETH rate has risen by 17.25% and reached $4,275.67. This brings the value closer to the historical maximum of 2021 – $4,875.

 

On August 8, the network recorded a new supply record: more than 121 million ETH were in circulation. For comparison, in August 2022 the figure was 120 million, and it took almost three years to add another million coins.

 

About 2,500–3,000 ETH are created every day, and the emission rate remains stable. Some coins are withdrawn from circulation through staking, when users lock assets to participate in confirming transactions and receiving rewards. This limits the supply available for trading and curbs inflation.

 

A total of 157,182,039 ETH have been created since its inception. The price dynamics are influenced not only by the volume of issuance, but also by the activity of large investors who are currently actively accumulating tokens. At the same time, their sale can provoke a sharp decline in quotes.

 

Last week, 94,000 ETH were withdrawn from spot ETH-ETFs – the first net outflow in three months. This happened after the price exceeded $4,000, and some large players began to record profits after a long period of stable injections into these funds.


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