Following the transition, miners are no longer being issued rewards, the bank said, noting that these rewards equated to a supply of 4.9 million ether (ETH) a year. ETH issuance is estimated to drop 90% to around 600,000, and total supply on the first day of the Merge fell as the fees burnt were larger than rewards issued to validators, it added.
Citi Says Ether Remains Relatively Stable Despite Significance of the Merge
