Vitalik just told Ethereum holders to stop treating ETH like a furnace. So why is $ETH still priced like the burn is the whole story?
On Sunday he wrote that valuing ETH as a fee-burning token "never was as strong as it seemed." Keep EIP-1559 — but "we should not feel sad if fee burn is < 10% of breakeven indefinitely." The numbers already made his point: about 1.48 million ETH burned in 2022 ($3.6 billion) versus roughly 19,200 ETH, or $43 million, this year.
What most people miss: that "ultrasound" floor was never a floor. Most 2021–2023 burns came from crypto-internal mania — one NFT mint day incinerated $180 million in fees. When prices fall, that revenue disappears.
ETH sits at $2,236 (24h $2,223–$2,246), down 1.35% this week, as ETH funds leaked $365 million and Bitcoin stays under $76,000. Vitalik says the real value is stability in an AI era.
If the burn no longer prices the coin, what actually does?
Not financial advice.
#ETH #Ethereum #Vitalik #StoreOfValue #CryptoMarket
On Sunday he wrote that valuing ETH as a fee-burning token "never was as strong as it seemed." Keep EIP-1559 — but "we should not feel sad if fee burn is < 10% of breakeven indefinitely." The numbers already made his point: about 1.48 million ETH burned in 2022 ($3.6 billion) versus roughly 19,200 ETH, or $43 million, this year.
What most people miss: that "ultrasound" floor was never a floor. Most 2021–2023 burns came from crypto-internal mania — one NFT mint day incinerated $180 million in fees. When prices fall, that revenue disappears.
ETH sits at $2,236 (24h $2,223–$2,246), down 1.35% this week, as ETH funds leaked $365 million and Bitcoin stays under $76,000. Vitalik says the real value is stability in an AI era.
If the burn no longer prices the coin, what actually does?
Not financial advice.
#ETH #Ethereum #Vitalik #StoreOfValue #CryptoMarket
