Can increasing deflation boost Ethereum price?
As a result of this upgrade, the higher the Ethereum network's transaction fees at any given time, the more Ether will be"burned" or removed from the supply forever.
Interestingly, Ethereum's median gas price has rebounded to a seven-month high of 27.13 Gwei in the week ending Feb. 17.ETH demand must not drop against a deflationary supply rate for the price to climb. One potential bullish catalyst in the pipeline for Ethereum is its upcoming network upgrade dubbed Shanghai, slated for mid-March.enables users who have locked their Ether into Ethereum's PoS smart contract to withdraw their assets finally.
Meanwhile, the total value locked in the Ethereum PoS contract continues to rise to new record highs, with the latest data showing deposits worth nearly 16.63 million ETH.The above-mentioned potential bullish catalysts for ETH price, however, could be offset by regulatory crackdowns and unfavorable technicals in the near term., a popular crypto exchange, $30 million for not registering its staking-as-a-service program, which includes the option of Ethereum staking.
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