Citi Says Ether Remains Relatively Stable Despite Significance of the Merge

Sept 20,2022
KingData News: The Ethereum Merge has been completed and despite “high anticipation” around the transition, volatility remained subdued, Citi (C) said in a research report Friday. Following the transition, miners are no longer being issued rewards, the bank said, noting that these rewards equated to a supply of 4.9 million ether (ETH) a year. ETH issuance is estimated to drop 90% to around 600,000, and total supply on the first day of the Merge fell as the fees burnt were larger than rewards issued to validators, it added. Citi says ether has become a yield-bearing asset following the removal of mining, with current staking yield about 4.5%. This yield is higher than some traditional financial instruments, it said.
This indicator broadcasts the latest progress of ETH 2.0 and the data changes of ETH 2.0 pledge amount in time.
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