On the 60th day of Ethereum, according to the data provided by ultra sound money, the Ethereum network has reduced the circulation of 5915.46ETH, and is in a deflationary state. Can we take a look at whether the "halving by three times/deflation" brought about by the expected EIP1559+POS low inflation has worked?

We can divide the past 60 days into three sections:

The first segment is the slight inflation after the merger. From September 15 to October 7, due to the bear market in the crypto market, the activities on the Ethereum chain are at a low level. At this time, the activities on the chain are mainly SWAP related transactions with NFT and Layer2. The price of GAS generally fluctuates between 10-15. Even though there are so few on the chain, thanks to the low inflation rate of EIP1559 and POS, Ethereum has issued 12400ETH in 22 days, with an average of 563ETH on a daily basis. Before the merger, the daily average additional issuance was about 15000 ETH, which was more than halved by three times.

The second and third periods, that is, from October 8 to today.

In the second paragraph, Ethereum Ecology has a Token XEN that "burns GAS certification", which has triggered continuous activity on the chain. The price of gas fluctuates between 20 and 50. At this time, the amount of destruction through EIP1559 has increased significantly. By November 8, the 12000 additional ETHs issued in the first paragraph had almost been burned up.
At the same time, under the influence of the FTX thunderstorm in the last week, that is, the third paragraph, because of the panic caused by CeFi, the withdrawal from the platform and other large amount of capital mobilization, which brought about very active activities on the chain, Gas once exceeded 100, which also made the Ethereum network officially enter a pure deflation state after the merger. In the last week, there was still a gap between the gas cost and the previous gas 300-500 in the active bull market period, but the deflation effect was still strong.

According to simple statistics, 320000 additional ETHs were reduced in the first 22 days, 450000 in the middle 30 days, 110000 in the last week, and 880000 in the last 60 days. At the current price, it has exceeded 1.1 billion dollars. On the contrary, previously, most of the profits belonging to block producers were used to pay for various costs such as electricity bills, which required a large amount of accumulated selling pressure. This is also one of the main reasons why BTC has fallen below its previous low and ETH is still "strong" even in the extreme market where FTX thunder triggered a series of chain effects.

After the merger of Ethereum, it was almost the same as the earlier expectation. Thanks to the efforts of many technical development teams and communities behind Ethereum, the main network after the merger of Ethereum has not found any loopholes and security problems that were once feared to have a substantial impact, and the Ethereum network is running safely and stably as before.
Ethereum merged and upgraded to a smooth upgrade, without interrupting the network, requiring users and most application developers to make any changes. Therefore, the user experience remained unchanged and was not affected. So the "stone" in the community and the outside world fell.

After the merger, developers can recover a lot of energy and invest in accelerating other unmet goals. On October 27, at the Ethereum Core Developer Conference, we continued to discuss the EIP that needs to be included in the "Shanghai Upgrade". The main priority options are EIP4844 and pledge withdrawal. EIP4844 is related to the new sharding design proposed by Ethereum previously. In short, it is to solve some problems through upgrading, so that the new main network is more friendly to the expansion and cost of some mainstream Rollups. The withdrawal was a problem that 32 ETHs pledged by each verifier in the beacon chain were released freely before. It was expected that the withdrawal would be in a linear queue, which would not lead to a large number of "runs" affecting the stability of the network. The specific rules have yet to be implemented.