[Ethereum Staker Income Has Fallen 30% Since Its March Peak As On-chain Activity Slows] According To The Block, Ethereum Staker Income Is Slowly Declining, Totaling $174 Million In September, Down From A Peak Of $247 Million In March, Reflecting A Reduction In On-chain Activity And A Reduction In Overall Market Enthusiasm. The $174 Million In Staker Income In September Was Much Higher Than The $35.5 Million In Transaction Fee Income, Highlighting The Heavy Reliance On Block Subsidies. Despite The Decline In Income, The Number Of Validators Continues To Grow. Ethereum Now Has 1.09 Million Validators, Showing Increased Participation In Network Security. Even With Reduced Individual Rewards, The Increase In The Number Of Validators Shows Continued Confidence In Ethereum's Long-term Prospects. Since The Merger, Ethereum's Annual Supply Destruction Rate Has Remained At -0.06%, Effectively Removing 861,000 ETH From Circulation Each Year. However, Since April, Ethereum Supply Has Been Observed To Grow As Fewer People Use The Main Chain, An Observation That Could Lead To Supply Inflation. The Highest Annualized Burn Rate Was Recorded On April 5 At -0.38%, And Has Been Steadily Rising Since Then. In Fact, The Number Of Active Addresses On Ethereum Has Also Decreased, Further Indicating A Decrease In On-chain Activity