Buterin argues ETH's value rests on store-of-value role, not fee burns
Ethereum co-founder Vitalik Buterin said ETH should be judged mainly as a store of value rather than through the fees it burns, while backing the EIP-1559 burn mechanism staying in place. He argued valuations built on burn revenue are fragile because fee income tends to shrink when prices fall, and said ETH could keep its monetary appeal even if burns offset under 10% of issuance. Mainnet burns have dropped since the 2024 Dencun upgrade cut layer-2 costs.