Ethereum and Solana Could Become Scarcer Than Gold by 2031

Ethereum and Solana are considering changes to their tokenomics that could make them scarcer than gold by 2031, according to a Grayscale research note.

The proposed changes would cut annual token inflation significantly, with Ethereum (ETH) and Bitcoin (BTC) sitting at roughly 0.4% inflation by the end of 2031, while Solana (SOL) would land at around 1.1%. These figures are below gold's 1.8% annual supply growth and well below U.S. CPI inflation at 3.3%.

The mechanism is straightforward: both networks currently issue new tokens as staking rewards, but reducing that issuance means fewer tokens enter circulation each year, pushing scarcity higher.