Ether Turns Deflationary Again Led by Spike in NFT Sales

Ether’s inflation rate also depends on a separate mechanism known as the Ethereum ( $1,556.92 ) 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.