ETH Fee Burns Only Cover 2% of New Coins Minted in 2026 – Is Supply Shrinking a Mirage?

On October 9, ledger data showed that Ethereum's fee burn accounted for just 2.07% of gross issuance, meaning ETH fee burns cover only about 2% of the new coins printed in 2026.

Analysts using a conditional capacity model warn that unless demand for ETH surges, the network will continue to inflate supply, raising questions about the effectiveness of EIP‑1559’s burn mechanism as a long‑term deflationary tool.