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Ethereum’s ongoing price plunge can be a result of this ‘ghost from ETH’s past’

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Ethereum’s [ETH] circulating supply has dropped considerable since the much-awaited Merge. According to data from ultra sound money, the supply of the leading altcoin has increased by just 5,000 and an annualized inflation rate of 0.19% since 15 September.

Data from the same source revealed that if a PoW consensus mechanism still powered ETH, its supply within the would be up to 98,000.

Additionally, its inflation rate would be pegged at 3.78% during the same period. Following the Merge, the network dispensed with the need for miners to validate transactions on the network and rewards paid to them.

Many believed that with the pre-Merge-staked ETH locked until the Shanghai Upgrade and decline in miner rewards, post-Merge ETH would see a decrease in selling pressure.

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