Ether’s inflation rate also depends on a separate mechanism known as the Ethereum Improvement Proposal (EIP)-1559, where fees paid for transactions on the network are “burned,” or eliminated from circulation. The EIP-1559 is tied to the amount of ether burned with network usage: The more transactions on the blockchain, the more ETH is burnt.
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- Source: https://www.coindesk.com/markets/2023/01/24/ether-turns-deflationary-again-led-by-spike-in-nft-sales/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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