Ethereum’s fee burns offset only 2.07% of gross 2026 issuance through Oct. 9, leaving supply about 0.64% higher. The ledger shows 796,623 ETH of gross issuance against just 16,524 ETH destroyed via execution and blob fees, plus 1,685 ETH in consensus penalties. A conditional 200 million gas target pursued after the Glamsterdam upgrade would lower the base fee required to offset issuance from 13.85 gwei to 4.16 gwei, while maintaining a daily burn need of approximately 2,992 ETH. Current supply stands at roughly 122.116 million ETH.
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