Ethereum prices have surged to their highest levels for ten weeks. Additionally, ETH issuance is back in the deflationary territory as network demand ramps up.
Ethereum ລາຄາ closed in on $1,600 during the morning of Jan. 16. Building further on weekend gains, ETH tapped its highest price since Nov. 8, reaching $1,589 this morning.
The asset has made 3% over the past 24 hours and was trading at $1,568 at press time. Furthermore, ETH has gained more than 30% over the past fortnight. It has slightly outperformed Bitcoin, which has notched up 27% over the same period and 2.1% on the day.
The bullish momentum for Ethereum is rising a couple of months before the ການປັບປຸງ Shanghai. This will enable the phased ຖອນເງິນ of staked ETH parked on the Beacon Chain for more than two years.
Ethereum Issuance Declines
Ethereum’s on-chain fundamentals have also strengthened this year following a terrible 2022. According to the Ultrasound Money ບົບຕິດຕາມລຸດ, ETH issuance has fallen into deflationary territory once again. The current supply growth is -0.09% per year, it reported at the time.
Source: https://beincrypto.com/ethereum-hits-ten-week-high-and-turns-deflationary-again/