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❕NEWS Burnt Ethereum is crazy

AudraMiller

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The ethereum coin is an altcoin in the cryptocurrency world that is very well known and there are many people that are choosing to invest in this coin over bitcoin actually, which leads to a lot of questions regarding how bright its future can be. This has made it the rival coin for bitcoin as well. In a recent event there was a hard fork of this coin to the LONDON coin, and this was met with a lot of ethereum coins being burnt as well. The reduction in supply was successful in raising the price of Ethereum. In a recent news article however, it seems that over one billion dollars in ethereum has already been burnt. What are your thoughts on this?
 

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Burning decreases supply for sure, but is this a one-time thing or is it going to be done periodically? I know a coin, Luna that enjoys price surges due to burning occasionally
 

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I have come across something like this. I still do not understand what it means to burn a certain coin. How will that affect the price of the coin? I guess if the supply is cut, the price will be reduced.
 

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Ethereum burn actually added value to it though not has high as expected which could be attached to recovery moment for bitcoin because despite it competing with bitcoin , Bitcoin wave still affect it.
 

AudraMiller

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Ethereum burn actually added value to it though not has high as expected which could be attached to recovery moment for bitcoin because despite it competing with bitcoin , Bitcoin wave still affect it.
I think that the rise in price was stunted by the fact that there is still a bear market that is ongoing. However i think that when the market recovers then the true effects of the burn will be seen.
 

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I think that the rise in price was stunted by the fact that there is still a bear market that is ongoing. However i think that when the market recovers then the true effects of the burn will be seen.
you're absolutely right my friend because if the burn was to have an serious effect by now the price of ethereum should be more than $7000 by now.
 

Wisdom01

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This is really huge , I guess they are burning more of the token so that it will affect the price positively ,but I believe that ethereum have a very promising future too
 

JamesSemaj

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The ethereum coin is an altcoin in the cryptocurrency world that is very well known and there are many people that are choosing to invest in this coin over bitcoin actually, which leads to a lot of questions regarding how bright its future can be. This has made it the rival coin for bitcoin as well. In a recent event there was a hard fork of this coin to the LONDON coin, and this was met with a lot of ethereum coins being burnt as well. The reduction in supply was successful in raising the price of Ethereum. In a recent news article however, it seems that over one billion dollars in ethereum has already been burnt. What are your thoughts on this?
This is a great move which will lead to the continous rise in price in the future. 1 billion dollars is a hell lotta money tho.
 

AudraMiller

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This is a great move which will lead to the continous rise in price in the future. 1 billion dollars is a hell lotta money tho.
It is a bit crazy, however i guess it is a good way to manage the supply of a coin and to try and get it up to the rivalry point between this cryptocurrency and bitcoin as well. The price is certainly reflecting this.
 

Yugocean

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Burning ETH was to reduce it's pressure in transaction for low gas price and then convert to ETH 2.0; but it was not successful.
 

Wisdom01

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It is a bit crazy, however i guess it is a good way to manage the supply of a coin and to try and get it up to the rivalry point between this cryptocurrency and bitcoin as well. The price is certainly reflecting this.
But the problem is that no one would volunteer to do so and burn his or her eth ,when they have other important needs to meet , because it's crazy and funny at same time
 

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