ETH: Ultra Sound Barrier
Ethereum Ultra Sound Barrier: daily data through 8 Nov 2026.
The base fee at which the ETH burned would equal the ETH issued by proof of stake, beside the actual base fee.
Why use it. Ethereum burns the base fee of every transaction, so when the actual base fee is above this barrier the day's burn exceeds issuance and ETH supply shrinks. How to read it. Actual base fee above the barrier means deflation that day; below it, supply grows. The barrier falls when the network uses more gas and rises with validator rewards, so it moves with activity even when the base fee does not.
Calculation. Barrier = the day's proof-of-stake issuance in ETH / the day's gas used, in gwei per unit of gas. Base Fee = the day's gas-weighted mean base fee. Proof-of-stake issuance is the change in the consensus layer's ledger net of deposits and withdrawals, as in Issuance. From the merge (15 September 2022), daily. Only finalized blocks and completed UTC hours are counted; the open day is a labelled partial, updated hourly, and replaced by the final value once the day closes. Computed by CryptoKeyhole from its own Ethereum execution and consensus nodes: every finalized block since the genesis block on 30 July 2015 and the consensus layer's ledger, with USD values from CryptoKeyhole's own hourly index of public exchange markets. Periods are UTC.