Yea it depends how much is powered up, but also from the virtual hive supply, that includes the hbd that in theory can be converted to hive. This makes the virtual supply dependent on the hive price, and basicly the base for the inflation changes as the hive price changes. Its not big of a change, but not small either.... I even made a post last year to exclude the hbd in the dhf from the virtual supply as this also ads to the base/principal for inflation, as the hbd in the dhf has been growing