The 90-day snapshot
" Translation: "90-dagers oversikten
" or "90-dagers øyeblikksbilde". I'll use "90-dagers oversikt" as it's more natural. Next paragraph: "Average daily base-fee burn over the full 90 days was about 58 ETH. In the last 30 days of that window, it fell to roughly 27 ETH per day. Meanwhile, staked ETH has ballooned: from about 1.5 million at the start of 2026 to nearly 40 million by mid-year. As of July 23, roughly 32% of total ETH supply was staked.
" Translation: "Gjennomsnittlig daglig basegebyr-forbrenning over hele 90-dagersperioden var omtrent 58 ETH. I de siste 30 dagene av dette vinduet falt den til omtrent 27 ETH per dag. I mellomtiden har staked ETH vokst kraftig: fra omtrent 1,5 millioner ved starten av 2026 til nesten 40 millioner ved midten av året. Per 23. juli var omtrent 32 % av den totale ETH-tilførselen staket." Note: "staked ETH" - we can say "staket ETH" or "ETH i staking". I'll use "staket ETH" as it's common. Next: "That means issuance is flowing out to validators at a steady clip, while the deflationary pressure from EIP-1559 has all but vanished. The net effect is a modest but persistent supply increase.
" Translation: "Det betyr at utstedelse strømmer ut til validerere i jevnt tempo, mens det deflasjonære presset fra EIP-1559 nesten har forsvunnet. Nettoeffekten er en beskjeden, men vedvarende tilbudsøkning." Next: "Why the burn is dropping
" Translation: "Hvorfor forbrenningen synker
" Next: "The facts don't specify why base-fee burns have fallen so sharply. But the numbers are clear: the burn rate in the last month was less than half the 90-day average. Lower network activity means lower base fees, which means less ETH destroyed. For a chain that briefly flirted with net deflation after the Merge, the current trajectory is a reversal.
" Translation: "Faktaene spesifiserer ikke hvorfor basegebyr-forbrenningene har falt så kraftig. Men tallene er klare: forbrenningsraten i den siste måneden var mindre enn halvparten av 90-dagersgjennomsnittet. Lavere nettverksaktivitet betyr lavere basegebyrer, noe som betyr mindre ETH ødelagt. For en kjede som kortvarig flørtet med netto deflasjon etter The Merge, er den nåværende banen en reversering." Note: "The Merge" is a proper noun, we keep it as "The Merge" or "Merge". In Norwegian, it's often "The Merge" or "sammenslåingen". But since it's a specific event, we can keep "The Merge". I'll keep it. Next: "The reward burn idea
" Translation: "Belønningsforbrenningsideen
" or "Ideen om belønningsforbrenning". I'll use "Belønningsforbrenningsideen" as a compound. Next: "One concept floating around in research circles is 'reward burns' — burning a share of validator rewards, specifically priority fees and/or MEV, to counterbalance issuance when base-fee burns are low. Right now, those fees flow entirely to validators. A reward burn would redirect some of that value to the supply side.
" Translation: "Et konsept som sirkulerer i forskningsmiljøer er 'belønningsforbrenning' – å brenne en andel av validatorbelønningene, spesielt prioritetsgebyrer og/eller MEV, for å motvirke utstedelse når basegebyr-forbrenningene er lave. Akkurat nå går disse gebyrene helt til validerere. En belønningsforbrenning ville omdirigere noe av den verdien til tilbudssiden." Note: "MEV" is a technical term, we keep it as MEV. "priority fees" - "prioritetsgebyrer" is fine. Next: "Proponents argue it could smooth supply growth and reduce centralization pressures from MEV extraction. But the idea is still in research territory. No implementation on mainnet Ethereum exists, and there's no timeline for one.
" Translation: "Tilhengere argumenterer for at det kan jevne ut tilbudsveksten og redusere sentraliseringspress fra MEV-utvinning. Men ideen er fortsatt i forskningsfasen. Det finnes ingen implementering på mainnet Ethereum, og det er ingen tidslinje for en." Next: "The conversation, however, is likely to intensify. With base-fee burns scraping lows and staked supply at record highs, the math isn't going away.
" Translation: "Samtalen vil imidlertid s
