Ethereum blockchain developers have planned updates on the way which will alter the total supply of etherium. Essentialy every time a transaction is conducted via the network tokens will be permanently destroyed.

The change is known as EIP1559 (worth a read on google) which solves a variety of problems the cryptocurrency has had for some time. It was approved on friday by developers.

The reduced supply will likley lead to prices increasing.

Ethereum theoretically had an infinite supply, with the changes being made it means policy actions and controls give similar capabilities to that of a central bank.

ETHUSD - Long

Mar 07 2021

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