Ethereum fee burns offset just 2% of new ETH issued in 2026
- —16,524 ETH burned in fees versus 796,623 ETH of gross issuance since Jan. 1
- —Net supply growth of 778,413 ETH, or about 0.64%
- —Zero net growth would require a 13.85 gwei base fee at the 60 million gas limit
- —A 200 million gas limit would lower that threshold to 4.16 gwei
Why it matters: Weak burn offset undermines ETH's deflationary narrative and holder expectations that scaling will make the asset scarcer.
Source: CryptoSlate