Ethereum has lost about 913,111 ETH, or 0.76% of the circulating supply, equivalent to over $3.43 billion due to contract errors and user mistakes according to Coinbase statistics.
The above figure does not account for ETH lost due to forgotten private keys and inactive Genesis wallets, so the actual amount of lost ETH could be much larger.
MAIN CONTENT
Ethereum has permanently lost over 913,000 ETH due to technical errors and user mistakes.
The ETH burning mechanism from EIP-1559 reduces supply, increasing the scarcity of ETH.
The price of ETH is growing strongly thanks to the accumulation by whales and interest from large institutions.
How much supply does Ethereum lose and what are the main causes?
This is an assessment based on data from Conor Grogan, a Coinbase researcher: at least 913,111 ETH have been permanently lost due to user error, contract mistakes, and tokens being permanently locked. This figure is equivalent to about $3.43 billion at current ETH prices, accounting for 0.76% of the circulating supply.
Mr. Grogan emphasized that this figure does not include the amount of ETH lost due to forgotten private keys or inactive Genesis wallets, so the actual total amount of lost ETH could be much higher.
"The figure of $3.4 billion only includes permanently locked ETH and does not reflect the entire amount of ETH that cannot be accessed due to other reasons."
Conor Grogan, Coinbase Researcher, July 20, 2025
Major ETH loss events are still related to the Parity Multisig error that lost 306,000 ETH, the QuadrigaCX incident that locked 60,000 ETH, and 11,500 ETH lost in the Akutars NFT mint incident. With an additional burn of 5.3 million ETH from the EIP-1559 system, the total ETH lost exceeds 6 million, accounting for 4-5% of the total supply of 120.7 million ETH.
How has Ethereum's supply mechanism changed to support the upward price trend?
After the Merge event in September 2022, which transitioned to Proof of Stake, the release of new ETH decreased significantly, tightening the supply. Combined with the transaction fee burning mechanism introduced by EIP-1559 in 2021, the scarcity of ETH has increased.
Before the Merge, the total circulating ETH was 120.5 million, slightly decreasing afterwards, and by 2024 it has slightly recovered to 120.7 million ETH. Ethereum does not have a maximum supply limit, but deflationary effects result in a low inflation rate, considered by the market as a long-term price-supporting factor.
What is the price of Ethereum and what factors are driving the price trend?
The price of ETH has increased by 57.6% in the past month, peaking around $3,834, maintaining above $3,800. Market experts expect ETH could surpass the $4,000 mark if the upward momentum continues.
Strong accumulation from whales, increasing interest from institutional investors, and positive signals from the regulatory framework are key factors driving ETH's recovery. The GENIUS Act was enacted on July 18, 2025, creating a regulatory framework for stablecoins, thereby indirectly supporting ETH, Solana, and other Layer 1s.
"ETH is returning to the historical price range of $2,200 – $3,900 and has increased by 120%, preparing to challenge the upper price range of this band."
Rekt Capital, Technical Analyst, July 20, 2025
Ethereum's market share in the entire cryptocurrency market has increased from 9.7% to 11.6%, while Bitcoin has decreased from 64% to 60%, indicating that altcoins are outperforming, with ETH leading.
What is the movement of Ethereum whales and what does it mean for the market?
According to Lookonchain data, Ethereum whales have purchased over $2.7 billion in ETH in just one week, a sign that they are controlling the market and reflecting greater transparency in regulation.
This helps strengthen the confidence of major investors and boosts liquidity and stability for the ETH market.
Frequently Asked Questions
Where does Ethereum lose supply from?
Contract errors, user mistakes, and tokens locked in contracts or burn addresses have caused over 913,000 ETH to be permanently lost.
How does burning ETH from EIP-1559 affect supply?
The transaction fee burning mechanism has eliminated over 5.3 million ETH, reducing the circulating supply and increasing scarcity.
Can the price of Ethereum continue to rise?
Based on whale data and technical analysis, the price of ETH is predicted to break the $4,000 threshold if the current trend continues.
What is Ethereum's market share compared to Bitcoin now?
Ethereum accounts for 11.6% of the cryptocurrency market share, up from 9.7%, while Bitcoin has decreased from 64% to 60%.
How does the GENIUS Act affect Ethereum?
The GENIUS Act creates a regulatory framework for stablecoins, helping the market to be more transparent, indirectly promoting the growth of ETH and other Layer 1 networks.
Source: https://tintucbitcoin.com/ethereum-thiet-hai-34-ty-usd/
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