Vitalik Buterin clarified the issuance schedule of ETH, and the price rises above $ 500

Vitalik Buterin clarified the issuance schedule of ETH, and the price rises above $ 500

The founder of Ethereum participated in an AMA session where he specified how it will look like with the cryptocurrency emission in the following years.

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20 Nov 2020 , 12:02 @ Katie Müller

Vitalik Buterin clarified the issuance schedule of ETH, and the price rises above $ 500

The founder of Ethereum participated in an AMA session where he specified how it will look like with the cryptocurrency emission in the following years.

With the upcoming release of ETH 2, ETH 1 is also still a hot topic, and Vitalik Buterin has had to face various questions about the future of this crypto in the AMA session.

Probably the most interesting change is the issuance schedule on which V. Buterin commented as follows:

The issuance schedule is ~4.7M per year for the next ~1-2 years or however long it takes until the merge, and then ~0-2M per year minus burned fees (which could be even greater than the issuance!) once PoS is fully in place. I don’t think it’s even productive to give any kind of different answer.

With the current total supply, which is 113,501,292 ETH, according to Vitalik, an average of 4.7M will be mined every year for the duration of two years.

Trustnodes analysts also say that between Ethereum devs has been talked about for some time about burning a portion of the transaction fees. With this step, holders could avoid pressure from new supply as such fees would have instead gone to stakers.

In terms of trading and the ETH market, we are currently witnessing an overrun of $ 500 for the first time since June 2018.

The price of Ethereum increased by 37.6% in November alone, from a measured low of $ 369 to a maximum value of $ 508 (binance).

Read also: Miners in China started shuting down the machines because they can’t pay for electricity due to frozen bank cards

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