Ethereum Co-Founder Vitalik Buterin Backs ETH as Store of Value over Fee Burns
Buterin said Ethereum should keep EIP-1559 while focusing on censorship resistance and security, arguing that higher fees could hurt accessibility and privacy.
- On Sunday, Ethereum co-founder Vitalik Buterin stated that the Ethereum fee burn "was never a true floor" for the asset's price, arguing the network should prioritize long-term reliability over maximizing transaction fees.
- The fee burn was previously linked to the "ultrasound money" concept, which promised that ETH would become increasingly scarce; EIP-1559 destroys transaction fees while continuing to issue new ETH to validators.
- Ethereum's March 2024 Dencun upgrade reduced layer-2 transaction costs by 90% or more, causing supply to grow as fees decreased; validators added about 2,600 new ETH daily in October, exceeding calm-period burn rates.
- Spot Ethereum ETFs saw outflows of $365.3 million for the week ending November 6, as stablecoins dropped by about $5 billion; ETH trades at $2,226, slipping below the $2,236 low set on November 5.
- Buterin maintains the network should focus on decentralization and security through technologies like Fork-Choice Enforced Inclusion Lists to strengthen censorship resistance, arguing this approach remains compatible with supporting tokenized assets without fee maximization.
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12 Articles
Vitalik Buterin Says Ethereum's Fee Burn Was Never a Price Floor. What Is Holding ETH at $2,200?
The post Vitalik Buterin Says Ethereum’s Fee Burn Was Never a Price Floor. What Is Holding ETH at $2,200? appeared first on 24/7 Wall St..Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin shared his thoughts in a post on November 8, 2026, stating that the Ethereum fee burn “was never a true floor” for the asset’s price. He suggested that investors should view ETH more as a store of value, an asset people hold to maintain wealth over time. The fe…
Vitalik Buterin Challenges Ethereum’s Fee-Burn Valuation Altcoin News ETHNews
Buterin argues that ETH’s monetary value should depend on Ethereum’s decentralization, security and resistance to censorship rather than maximizing transaction fees. Recent supply figures show that burning offsets only a small fraction of new ETH issuance. Ethereum’s scaling strategy creates a trade-off between affordable transactions and the fee revenue supporting its deflationary narrative. Ethereum co-founder […]
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