<p><a href="https://bsc.news/news/vitalik-buterin-eth-store-of-value-fee-burns?utm_source=coinmarketcap&amp;utm_medium=feed" rel="noopener noreferrer nofollow">Read this article on bsc.news</a></p>
<p>Vitalik Buterin (<a href="https://x.com/VitalikButerin" rel="noopener noreferrer nofollow">@VitalikButerin</a>), co-founder of Ethereum (<a href="https://x.com/ethereum" rel="noopener noreferrer nofollow">@ethereum</a>), has argued that <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a> should be viewed mainly as a store of value rather than a fee-burning token. According to Crypto Briefing, he made the case in a post on X on November 8, 2026, while endorsing the continued use of EIP-1559.</p>
<h2 id="why-buterin-is-downplaying-fee-burns">Why Buterin Is Downplaying Fee Burns</h2>
<p>EIP-1559, introduced in 2021, destroys a portion of the fees users pay to transact on Ethereum, removing that ETH from circulation permanently, Crypto Briefing reports. Buterin says the mechanism should stay in place even if it does not offset new issuance. BigGo Finance reports that he said ETH could keep its store-of-value appeal even if burning stayed below 10% of the amount needed to offset issuance indefinitely. In the same post he wrote that "EIP-1559 (including its burn) is fine and good, we should keep them."</p>
<p>His objection is to the valuation logic built around burning. The idea of $ETH as "ultrasound money" held that burns would outpace new issuance, making the token deflationary and a harder form of money than Bitcoin. Buterin now says the burn was never a reliable valuation floor. Cointribune reports his argument rests on several observations, including that the burn peaks came mainly from speculative activity internal to crypto. BigGo Finance adds that he challenged the arithmetic of valuing ETH like a business with a predictable income stream, since such a calculation assumes fee revenue holds up even if the token loses value.</p>
<p>Instead, Buterin points to decentralization, security and stability as the qualities that should support ETH's value. The Ethereum co-founder believes these traits could become more valuable as AI disruption accelerates, according to the original post summaries. Cointribune also reports that he warned maintaining high fees to make ETH rarer would penalize users and slow Ethereum adoption.</p>
<h2 id="market-and-supply-context">Market and Supply Context</h2>
<p>BigGo Finance reports that ETH was trading near $2,240 at the time of the remarks. Ethereum has been issuing more tokens than it burns. Coindoo, citing ultrasound.money data, reports that the entire 30-day burn came to 2,417 ETH, less than 3% of what was issued over the period.</p>
<p>Analysts have linked the decline in burns to the shift of activity onto Layer 2 networks. Blofin's explainer notes that the burn rule itself did not change after the March 2024 Dencun upgrade made Layer 2 data posting cheaper. Mainnet fees fell and the burn shrank with them.</p>
<p>Buterin's remarks mark a shift in emphasis for a community that has long treated the burn as central to ETH's appeal, though he has been explicit that he is not proposing to scrap it.</p>
<h2 id="sources">Sources</h2>
<p><a href="https://cryptobriefing.com/vitalik-buterin-eth-store-of-value/" rel="noopener noreferrer nofollow">Crypto Briefing: Vitalik Buterin wants ETH to be a store of value, not a fee-burning token</a></p>
<p><a href="https://finance.biggo.com/news/921ffe82-3f33-4927-b179-036fc414add8" rel="noopener noreferrer nofollow">BigGo Finance: Buterin Recasts ETH's Investment Case Around Scarcity, Not Token Burns</a></p>
<p><a href="https://coindoo.com/ethereums-58-fee-drop-has-a-catch-for-eth-holders/" rel="noopener noreferrer nofollow">Coindoo: Ethereum's 58% Fee Drop Has a Catch for ETH Holders</a></p>
<p><a href="https://bsc.news/latest-news?utm_source=coinmarketcap&amp;utm_medium=feed" rel="noopener noreferrer nofollow">See more news on bsc.news</a></p>

Vitalik Buterin Backs Ethereum (ETH) as Store of Value Over Fee Burning, Keeps EIP-1559

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