#3 of 25 · Ethereum
Is ETH deflationary?
Shrinking · −0.01% estimated supply next year
ETH supply is expected to shrink over the next twelve months (−0.01% estimated). That figure is a measured estimate from 92 dated observations over 91 days. Under its eip-1559 base-fee burn program, tokens are permanently destroyed, funded by network transaction fees. No scheduled token releases are known for the next twelve months. Beneat Supply Watch ranks ETH #3 of 25 with an overall supply score of 87 out of 100, as of Sep 6, 2026.
Supply score
87 / 100
Key figures
Supply next year
−0.01% estimated
Tokens unlocking, 12 months
None known
Circulating
Dynamic supply
Market cap
$304.2B
Supply direction score
70
Release pressure score
100
Program strength
98
Track record
95
Scores are 0–100 research shortcuts, not price forecasts. Sources: partial. Data as of Sep 6, 2026.
Supply history
Daily observed effective supply from the approved protocol adapter. Scheduled releases are shown separately below.
Upcoming releases
Supply changes with network use rather than a fixed release schedule. No insider vesting schedule; supply is governed by protocol issuance and burn rules.
No calculable ETH release is published for the coming months.
How ETH supply changes
Paid for by
Network transaction fees
What happens
EIP-1559 base-fee burn
Where tokens go
Permanently burned
Proof-of-stake issuance and EIP-1559 burns move independently; the net result changes with validator participation and block demand.
Catalyst
No material catalyst recorded.
Offsetting risk
Low network activity can make issuance exceed fee burn.
Questions people ask about ETH supply
- Is ETH deflationary?
- ETH supply is expected to shrink over the next twelve months (−0.01% estimated). That figure is a measured estimate from 92 dated observations over 91 days. Under its eip-1559 base-fee burn program, tokens are permanently destroyed, funded by network transaction fees. No scheduled token releases are known for the next twelve months. Beneat Supply Watch ranks ETH #3 of 25 with an overall supply score of 87 out of 100, as of Sep 6, 2026.
- When is the next ETH unlock?
- No dated ETH release is published for the coming months: supply changes with network use rather than a fixed release schedule. No insider vesting schedule; supply is governed by protocol issuance and burn rules.
- How much ETH is in circulation?
- 122.0M ETH is in circulation with a market cap of $304.2B. ETH has no fixed maximum supply. Release progress is 5 of 5; expected completion: No fixed cap.
- How does ETH supply change?
- Proof-of-stake issuance and EIP-1559 burns move independently; the net result changes with validator participation and block demand. Program: EIP-1559 base-fee burn. Paid for by network transaction fees. Destination: permanently burned.
- How reliable is this data?
- ETH has partial sources: 2 cited documents, last checked Sep 6, 2026. Reconciliation against the published plan is "within-tolerance". Observed circulating supply is compared with calculable scheduled releases; opaque and dynamic flows remain outside the expectation.
Sources
- CoinGecko · Market and circulating-supply snapshot ↗2026-09-06
- Ethereum Foundation · ETH supply and burn mechanics ↗2026-09-01
Reconciliation: within-tolerance. Observed circulating supply is compared with calculable scheduled releases; opaque and dynamic flows remain outside the expectation. Machine-readable data: /api/screener/deflationary and calendar for ETH.
Compare with
All 25 tokens on Beneat Supply Watch · How Supply Watch compares with other tools
Research only. Not investment advice. Beneat Supply Watch does not forecast prices.