The cryptocurrency space is always growing and evolving in many different ways. In the case of Ethereum, a very important milestone has been reached earlier this week.
Unlike Bitcoin, Ethereum does not have a fixed hard cap on its supply.
Over 110 Million Ether in Existence
That in itself is not a problem, as there is a solution in place to decrease the output over time.
Earlier this week, the 110,000,000th Ether was mined on the network.
This makes the current supply vastly higher than Bitcoin’s maximum of 21 million, but one Ether is also worth far less money.
For the community, this marks an important milestone.
It goes to show that interest in Ethereum is not waning, especially where its mining power is concerned.
Even with the current low block reward, the supply will keep growing steadily.
Surpassing 120 million ETH will take a lot longer, for obvious reasons.
All of this is what makes the cryptocurrency industry so interesting to keep an eye on at all times.
It is also intriguing to note that, of this total supply, under 35.4 million ETH comes from mining block rewards.
The initial 72 million ETH was created during the Genesis block, which also offered tokens to initial investors.
All things considered, the Ethereum ecosystem appears to be in a good place.