When we talk about the price of Ethereum, we often simplify it to the interaction between supply and demand. Yet, while this statement holds true, most analyses tend to focus on the macro side — total supply, issuance rates, and burn mechanics — overlooking the complex microstructure of token demand that actually drives the market in real time. Ethereum’s supply side has become relatively predictable. With issuance now stabilized and the burn mechanism providing a continuous counterbalance, c...

When we talk about the price of Ethereum, we often simplify it to the interaction between supply and demand. Yet, while this statement holds true, most analyses tend to focus on the macro side — total supply, issuance rates, and burn mechanics — overlooking the complex microstructure of token demand that actually drives the market in real time. Ethereum’s supply side has become relatively predictable. With issuance now stabilized and the burn mechanism providing a continuous counterbalance, c...