Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/ethereum/developer-hails-eth-burning-will-ethereum-break-3000/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

Developer Hails ETH Burning, Will Ethereum Break $3,000?
NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Developer Hails ETH Burning, Will Ethereum Break $3,000?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Péter Szilágyi, an Ethereum (ETH) developer, has lauded EIP-1559 and its ETH burning mechanism as “the great equalizer.” Taking to X on January 16, Szilágyi admired EIP-1559’s ability to “level the playing field between validators and regular users.”

Developer: EIP-1559 Is A “Great Equalizer”

Since the implementation of EIP-1559, Ethereum adjusted how users bid gas fees, introducing the “base fee,” which was burned or sent to an irretrievable wallet. So far, data from Ultrasound Money shows that over 3.9 million ETH have been destroyed.

In the last week alone, the Ethereum network automatically sent more than 21,100 ETH out of circulation, “burning” ETH’s supply. 

ETH burning | Source: Ultrasound Money
ETH burning | Source: Ultrasound Money

Specifically, Szilágyi mentioned the advantage regular users have with EIP-1559. Through this implementation, validators (previously miners before Ethereum shifted to a proof-of-stake blockchain) no longer have the privilege of arbitrarily adjusting gas limits and transaction fees. 

Related Reading

Bitcoin

Bitcoin ETF Makes Waves: Volumes Surge $10 Billion 3 Days

1 year ago

Earlier, that leeway created what the developer described as an “imbalance,” which made it tough for “regular users to compete.” However, following this implementation, everyone must adhere regardless of status as a validator, founder, or user. 

With EIP-1559, the “base fee” adjustment is set at the protocol level. It is this base fee that the network burns, gradually making ETH deflationary, reading from the number of coins taken out of circulation since EIP-1559 went live in early August 2021. Even so, a sender can “tip” the validator, incentivizing them to prioritize validating a transaction.

Stability And Predictability Achieved, Ethereum Upsides Capped At $3,000

Szilágyi’s comments reflect a growing consensus among Ethereum supporters regarding the positive impact of EIP-1559. Though a big percentage of EIP-1559 is fixated on the price impact of the proposal, there is more that it achieves. 

Related Reading

SUI Network

SUI Overtakes Bitcoin, Aptos To Become 13th-Largest DeFi Network

1 year ago

Most importantly, from a user experience perspective, it is now easier for senders to predict how much they will pay for a transaction. This is crucial, especially when the network is congested. Additionally, though the Ethereum gas fee remains relatively high, EIP-1559, though considered a “bad idea” by Szilágyi, has stabilized the network. 

Ethereum price trending upward on the daily chart | Source: ETHUSDT on Binance, TradingView
Ethereum price trending upward on the daily chart | Source: ETHUSDT on Binance, TradingView

ETH burning is attributed to reducing inflation in Ethereum, a network whose total supply is not capped like Bitcoin. Over the long term, prices might benefit from this proposal. However, prices are bullish in the short to medium term. Still, upsides are limited to around the $3,000 psychological round number.

Feature image from Canva, chart from TradingView
Tweet123Share196ShareSend
Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum, ETH, Crypto

Ethereum Ready For $3,000 Breakout? Analysts Say Sideways Action Is About To End

Following a notable performance over the past 24 hours, Ethereum (ETH) is attempting to reclaim a key level as support....

Rubmar Garcia 1 week ago
Ethereum

Ethereum May Be One Dip Away From Mass Losses—Data Warns

On-chain data shows a large portion of the Ethereum market cap was acquired near the current price, making ETH’s position...

Keshav Verma 1 week ago
Ethereum Price Gearing Up for Gains

Ethereum Price Rallies as Bitcoin Takes a Breather — Is ETH Leading the Charge?

Ethereum price found support at $2,460 and started a fresh increase. ETH is now up over 5% and might attempt...

Aayush Jindal 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend

Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend

Samuel Edyme 1 week ago
Ethereum Price Consolidates and Eyes Recovery

Ethereum Price Flexes Strength — Outpaces Bitcoin With Bullish Breakout

Aayush Jindal 1 week ago
Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg

Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg

Sebastian Villafuerte 1 week ago

Premium Sponsors

Top Brands

Press Releases

  • A smart choice for XRP investors to passively earn money...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Let everyone earn $10,0080 a day – CRYPTOMININGFIRM...

    2 weeks ago
  • Start RIPPLECOIN Mining cloud mining package through...

    2 weeks ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.