Ethereum token issuance continues inflationary

Three months since the Merge, net token supply issuance has been majority inflationary due to low network usage being a factor to the rate of burn.After years in the making, the Merge was finalized on Sept. 15, switching Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS).The roll-out enacted several benefits, including cutting the chain’s energy consumption by a reported 99% and setting the groundwork for sharding to improve scaling in a future hard fork.The Merge also picked up with EIP 1559, which rolled out with the London hard fork in August 2021. This introduced a simplification of Ethereum’s fee market mechanism, including breaking fees into base fees and tips, then burning the base fee.Under a PoS mechanism post-Merge, burning base fees were sold as a deflationary mechanism.