Billion Dollars Worth Ethereum Burnt in Last 30 days – 18 Million New ETH Created

•  More Ethereum Burnt Means Gas Fees are Higher
  
• The Average and Median Gas Transaction Fees are Unacceptable

Lark Davis Shared: In the last thirty days a billion dollars’ worth of Ethereum has been burnt.

Community Response:  And, ridiculous gas fees.

If you research ETH properly you will start to forget that the gas fees even exist.

Why does the overall supply increase if it’s deflationary? It was around 117 million Q1 2021 now it’s pushing 120 million.  The amount in circulation is constantly increasing with terrifying speed.

Burning of just another unlimited supply coin. Wait for the move to PoS. The whole thing will implode on itself. It will have a few DoS attacks per week.

ETH is outdated tech with gas fee, which will not permit massive adoption rate at all. Who will use a network that cost more than a wage slave? Not the people. That’s why Terra Luna will eventually fix this It’s not even his goal to beat ETH, but to provide stable coin.

It’s not even about the price. It is about usability. LUNA and UST has been providing the most utility and no high gas fees to stop you from being able to use it. Luna Price will outperform ETH for sure. Stable Coins are growing like a MOFO.

 

More Ethereum are burnt implies that gas fees are higher, which translates in a congested and unusable network for the average users. It’s all so ridiculous.

Ethereum are really maintaining their blockchain properly. They are also set to launch their consensus upgrade (ETH2.0) later this year. With the launch so many of ETH, short comings will be addressed and the protocol will truly achieve it’s potential. Ethereum is irreplaceable.

I’m not sure, it will help. People need to pump it with USD and USDT, but no one wants to trade it because of the gas fees.

And, $2 Billion of gas fees have been issued.

In the last 30 days, a lot of my $ have been burnt as well.  The supply of ETH is inflationary—18 million new ETH can be created each year ($46 billion at current prices). So, even burning 1 billion per month won’t be enough to avoid inflation, if 18 million new ETH are created.

They know that it’s better to burn ETH before Ethereum burns earth.  Green Crypto is the future. Hedera HBAR is the ultimate solution

ETH average transaction fee $27.25. ETH median transaction fee $11.63. Unacceptable!

And it’s price is still going down, shows people are selling heavy when it’s still dropping at the same % as everything else.