l2migration

$ETH IS BURNING LESS THAN EVER WHILE SUPPLY EXPLODES 📉

The on-chain data is brutal. ETH burn rate is near multi-month lows because users have migrated to L2s, leaving mainnet gas fees in the dirt. Meanwhile, new issuance keeps pouring in — inflation is running hot and there's no catalyst to flip it.

Machi might be accumulating, but fundamentals don't lie. Without heavy gas consumption from user activity, ETH can't regain its deflationary edge. The net supply growth is the highest since the merge.

How long can one whale hold the line against this macro pressure?

Not financial advice. Always manage your risk.

#ETH #SupplyIssue #L2Migration #Crypto

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