Ethereum is going into full deflation mode as the transition to ETH 2.0 approaches.
Hardfork London with a built-in burning mechanism ensured that the scarcity and value of ETH as an asset increased. Since the integration of EIP-1559, more than 1 million ETH have been burned on the network. In early November, the difference between the number of tokens issued and destroyed over seven days in aggregate became negative.
Annual ETH inflation was less than 1%, with 5.4 million ETH issued and 4.3 million coins burned.
Experts suggest that deflation will increase after the network completely switches to Eth 2.0.
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