ethwatch ← Methodology

Issuance and burn methodology

What Ethereum mints, what it destroys, and the net of the two.

2 of 3 entries carry independent evidence · Current values: /llms-full.txt

Issuance (ETH/day)

derived
Source
ultrasound.money validator-rewards + effective-balance-sum
Endpoint or contract
https://ultrasound.money/api/v2/fees/validator-rewards
Derivation
Consensus-layer APR applied to the total EFFECTIVE balance, divided by 365. Effective balance is the correct base because rewards accrue on it and it is capped per validator.

Evidence

0.0254630 x 42,500,168 / 365 = 2,965 ETH/day, matching the published figure on 2026-08-28.

Caveats

  • Consensus-layer issuance only. Execution-layer priority fees are transferred from users, not minted, and are reported separately under staking.
  • validator-rewards.annualReward is gwei PER 32-ETH validator, not a network total. It looks like a total and is not; substituting it is wrong by orders of magnitude.

Burn (ETH/day)

api
Source
ultrasound.money burn-rates, with an on-chain fallback
Endpoint or contract
https://ultrasound.money/api/v2/fees/burn-rates
Derivation
d1.rate.eth_per_minute x 1440. An on-chain recomputation, the sum of baseFee x gasUsed over eth_feeHistory, runs as cross-check and fallback.

Evidence

2026-08-28: burn-rates gave 42.15 ETH/day and the independent burn-sums endpoint gave 42.14 over the same window.

Caveats

  • The on-chain fallback is a fallback for a reason: on keyless RPC the feeHistory window reaches only about three hours, and annualising a quiet three-hour stretch once understated the daily burn roughly fourfold.

Inflationary / deflationary

derived
Source
issuance minus burn
Endpoint or contract
—
Derivation
Sign of net issuance.

Evidence

Not independently verified

Caveats

  • Reported as unavailable rather than guessed when either input is missing. A burn feed failing must never be allowed to render Ethereum as deflationary.