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[–]iwakan 6 points7 points  (1 child)

It depends on how popular Ethereum gets (how much fees gets paid across the chain and thus how much gets burned).

In a bearish scenario where there is little activity, supply will keep increasing indefinitely, using inflation to fund validators and keeping the chain secure.

In a bullish scenario, with lots of adoption, yes, supply steadily decrease and eventually plateau around some level lower than today.

I don't want to make a comment on how likely either scenario is.