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ETH 
SOL Zach Pander, director of gray research, said that if the token economy reforms being discussed in the Ethereum and Solana communities are implemented, the supply growth rate of these two crypto assets will slow down significantly, which may support prices.
Pander pointed out that code adjustments currently underway in the Ethereum and Solana ecosystems are aimed at reducing the annualized token inflation rates for ETH and SOL. Assuming other conditions remain equal, slower supply growth will reduce the number of new tokens entering the market, thereby increasing the scarcity of existing assets.
Based on gray estimates, if these rules are implemented, Ethereum's annual supply inflation rate may fall to about 0.4% by the end of 2031, a level close to Bitcoin's supply growth rate. Solana's annual supply inflation rate is expected to fall to about 1.1%.
As a comparison, Gray pointed out that the annual supply of gold grew by about 1.8%, while the U.S. consumer price index inflation rate was about 3.3%.
Currently, the proposed changes to Ethereum and Solana are still under discussion within the community and have not yet been finalized. Pander said Solana's proposal seemed to have gained broader consensus and was therefore relatively more likely to be implemented.
However, reducing token inflation may also lead to reduced rewards for pledge investors. This is because a considerable portion of the pledge proceeds of ETH and SOL come from the issuance of new tokens.
Pander pointed out that slowing supply growth could increase scarcity, putting upward pressure on ETH and SOL prices. Investors who hold tokens but do not participate in pledges are particularly likely to benefit.
This content does not constitute investment advice.
