According to CoinMarketCap, Dogecoin's market capitalization currently sits at $9.8 billion, while Coinbase trades at $7.8 billion. Such a strong drop has been caused by the poor performance of the company's stock, which lost more than half of its value since September, following the depressing state of the cryptocurrency market and record-breaking outflows of funds from the industry.
According to the burning rate, the network activity is slowly recovering as the transaction fee creates more fuel for Ethereum's burning machine and causes an accelerated supply decrease. However, the on-chain data from Ultrasound.money suggests that the issuance offset is still too low to make Ether deflationary again, which is why we are seeing a continuously growing rather than decreasing supply.
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