Vitalik was blunt yesterday: Ethereum should stop valuing itself based on fee burning. At around 20:06 Beijing time on November 8, he posted that it would make more sense to treat ETH as a store-of-value asset. The current burn mechanism can stay, but even if the amount burned remains below 10% of break-even levels over the long term, there’s no need to be discouraged—the value comes from elsewhere.
This isn’t a call to end the burn. Critics may read it as the end of the narrative that burning fees makes ETH increasingly scarce, especially now that Layer 2s have diluted mainnet fees. He seems to be drawing a line: don’t raise fees or add governance burdens just to burn more coins; that would hurt decentralization.
If the community continues to treat burning as a hard metric in the coming days, the store-of-value interpretation won’t hold up. And if he or the Foundation later reframes burn targets as mandatory metrics, then this was just a verbal adjustment. At around 10:09 Beijing time, ETH was about $2145.73 on Binance, down about 3.9% over 24 hours.
$ETH
#ETH #以太坊 #Cryptocurrency
This isn’t a call to end the burn. Critics may read it as the end of the narrative that burning fees makes ETH increasingly scarce, especially now that Layer 2s have diluted mainnet fees. He seems to be drawing a line: don’t raise fees or add governance burdens just to burn more coins; that would hurt decentralization.
If the community continues to treat burning as a hard metric in the coming days, the store-of-value interpretation won’t hold up. And if he or the Foundation later reframes burn targets as mandatory metrics, then this was just a verbal adjustment. At around 10:09 Beijing time, ETH was about $2145.73 on Binance, down about 3.9% over 24 hours.
$ETH
#ETH #以太坊 #Cryptocurrency
