> ## Documentation Index > Fetch the complete documentation index at: https://docs.amberdata.io/llms.txt > Use this file to discover all available pages before exploring further. # Overview > Note: This dataset is updated daily and is available via REST API, Databricks, and Snowflake. *** # Description This metric tracks the current amount of ETH in circulation and reflects changes resulting from Ethereum's shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS) following **The Merge** in September 2022. Post-Merge, Ethereum introduced fee burning (via EIP-1559) and reduced issuance, making ETH a potentially deflationary asset. * **Monetary Policy & Inflation**: Tracking ETH supply growth allows users to evaluate Ethereum’s monetary policy. Post-Merge, issuance dropped significantly and fee burns introduced negative supply pressure, changing ETH’s inflation profile. * **Market Dynamics**: Supply changes can impact ETH price. An increasing supply may dilute value, while deflationary pressure can support price appreciation. Traders watch this closely for macro signals. * **Network Health & Adoption**: Supply trends also reflect activity on the Ethereum network. A growing supply may indicate increased usage, while a declining or flat supply could point to reduced demand or higher fee burning. *** # Use Cases \*\*Traders: \*\*Monitor ETH issuance trends to identify potential supply-demand imbalances and forecast market movements. \*\*Analysts: \*\*Incorporate issuance data into volatility models or liquidity analyses to enhance strategy development and risk forecasting. \*\*Researchers: \*\*Study issuance trends in the context of protocol upgrades, validator dynamics, and broader economic modeling of Ethereum's monetary system. *** # Methodology **Pre-Merge Block Rewards** * **Block 1**: 72,009,990 ETH — Initial ICO allocation * **Block 2 to 4,370,000**: 5 ETH/block — Original issuance * **Block 4,370,001 to 7,280,000**: 3 ETH/block — Byzantium upgrade * **Block 7,280,001 to 15,537,393**: 2 ETH/block — Constantinople to The Merge **Post EIP-1559 (London Fork)** * **ETH Burned = GasUsed × BaseFeePerGas** * Fee burning began at block `12965000` with EIP-1559. **Post-Merge ETH Issuance (Proof-of-Stake)** * Ethereum now issues ETH based on validator rewards rather than block mining. * There are approximately **225 epochs per day**: `365.25 X 225 = 82181 Epochs per year, and a BASE_REWARD_FACTOR = 64` **Base Reward Formula**: * `BASE_REWARD_FACTOR = 64` * `N = Number of validators = Current ETH Staked / 32` * Current ETH Staked = Total ETH Deposited − ETH Withdrawn (from Beacon chain) *** # Frequently Asked Questions **How often is this chart updated?** * Daily. ***