KEY POINTS
- Vitalik Buterin said ETH's value comes from stability rather than from burning transaction fees.
- He argued that fee burns were never a true price floor, since many came from internal crypto activity.
- Executives at Ethlabs and Enso told Decrypt they agree, though one said the message came too late.
Ethereum co-founder Vitalik Buterin has called on the community to value ETH as a store of value instead of a fee-burning token, saying the burn mechanism was never as strong as it appeared. Decrypt reported on the shift in messaging, which marks a change from the way ETH was promoted in recent years.
