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[AudraMiller]

The one thing that people are looking for in a coin is continuous improvement and generally this improvement is what helps a coin to increase its demand. Doing so in a decentralized system is very important because it will cause a rise in the price of the coin. Another way to increase the price of a coin is to burn the supply and lower it, therefore increasing the price. This is the case with Ethereum, and in a recent article that was released it seems that since the network update that happened two months ago, that there is over half a million ETH coins that were burnt. What do you think about this?

 

[Wisdom01]

I think more ethereum are been burnt to reduce the supply of the coin and make it deflationary ,this is actually the target of developers ,it's the reason why you also see coins like bnb do the same thing they actually have different motive and objectives for doing such kind of thing

 

[Wisdom01]

That is one of the ways to artificially influence the market price of cryptocurrencies. I once heard that the developers fake the demand and supply of the cryptocurrency inorder to artificially increase its price. I don't really sea any difference in what occurred with the ethereum. It's good to always do this. It will be to the advantage of the investors.

That's very bad because I hardly see something like that happen , someone needs to be careful most especially investing in the coin that haven't been launched, because that's basically the platform where the scammers usually create that fake coin to get people scammed too tho

 

[Duduyemi]

The one thing that people are looking for in a coin is continuous improvement and generally this improvement is what helps a coin to increase its demand. Doing so in a decentralized system is very important because it will cause a rise in the price of the coin. Another way to increase the price of a coin is to burn the supply and lower it, therefore increasing the price. This is the case with Ethereum, and in a recent article that was released it seems that since the network update that happened two months ago, that there is over half a million ETH coins that were burnt. What do you think about this?

No matter how burnt the creator burn the supply, from my two years of experience i have with the market, they all follow bitcoin. I remember how ETH was overhyped. Most predicted that it will overperform more than bitcoin. But till today ethereum us still trailing behind bitcoin. The analysis of the market make us realised that the market is wholly dependent on bitcoin.