The Ethereum and Solana networks are considering changes to their tokenomics that could reduce the annual growth in the supply of native coins and make the assets more scarce. This is stated in an analysis by Zach Pendle, head of research at Grayscale. The analyst views ether and solana as digital commodities that power two major blockchain networks for stablecoins and tokenized assets. He noted that both networks are discussing technical protocol changes that could reduce future token issuance. All other things being equal, a smaller supply growth rate can create additional potential for asset value growth.

In its report, Grayscale compared the projected annual supply inflation for Bitcoin, Ethereum, and Solana over the next five years, assuming the proposed changes are implemented. By the end of 2031, the rate for the first two cryptocurrencies could be about four‑tenths of a percent per year, while for Solana coins it could be about one‑tenth of a percent. For comparison, according to the estimates provided, the annual growth in the gold supply is about one and eight‑tenths of a percent, while consumer price inflation in the United States is at the level of three and three‑tenths of a percent. It is important to note that the changes have not yet been approved. The communities of both blockchains are actively discussing the proposals, and, according to Pendle’s assessment, Solana’s initiatives have broader support and higher chances of being implemented.

The reduction in inflation will directly affect coin holders participating in staking, as their rewards are paid out of the new issuance. In the event of a reduction in issuance, they will receive fewer new coins, but the scarcity of assets could potentially support their market price. According to Grayscale, owners of Ethereum and Solana who do not use cryptocurrencies for staking may benefit from a reduction in supply. For stakers, the final outcome will depend on the balance between lower rewards and the potential growth in the value of the assets themselves. For Ethereum, the issue of scarcity has already become a separate area of discussion: developers have proposed the EIP‑8363 initiative, which provides for a mechanism to burn part of the staking rewards. According to the draft, the share of rewards subject to burning may increase along with the share of the asset locked in staking. Pendle concluded that the proposed changes will increase the scarcity of both assets and may create upward pressure on prices. At the same time, the Solana ecosystem continues to develop the network’s infrastructure, and developers have already begun testing the Alpenglow upgrade to reduce transaction finalization time. According to Santiment, the volume of tokenized assets on the Solana network increased from $2.69 billion in the first quarter to $5.7 billion in the second quarter of 2026.

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The material was prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.