1 million Ethereum burned since August EIP-1559

[Tellek Garing]

Since the implementation of ethereum 2.0 London hard forks in August, a total of 1 million ethereum have been burned but ethereum price deflationary is not felt yet, and still, the ethereum network congestion has continued to soar and fees have constantly been on the rise.
What is your thought concerning the ethereum network? And what can we expect to change in the ethereum network shortly?

[israt1@]

It is not possible to expect this. Because they have a lot of big holders. At present they do not care about the small holders. If they thought about everyone then maybe they would reduce the fee.

[RILWAN]

The network has been busy all day with millions of unconfirmed transactions, smallholders pay high fees just to send a small amount of ethereum sometimes you end paying fees higher than the amount you want to send.

[Review Master]

It is not possible to expect this. Because they have a lot of big holders. At present they do not care about the small holders. If they thought about everyone then maybe they would reduce the fee.

Actually, it's not controlled by single person or team. It depends on the demand for using the network and how much gwei is used by the most of the users. Just check watchtheburn, you'll see priority fee is less than 30 gwei, but base fee is more than 100 gwei as many users (who're having huge funds) are preferring to use the higher gas price to confirm their transection instantly. That's why ethereum can't hit those priority fee price even after implementing the EIP-1559.

[batang_bitcoin]

Since the implementation of ethereum 2.0 London hard forks in August, a total of 1 million ethereum have been burned but ethereum price deflationary is not felt yet, and still, the ethereum network congestion has continued to soar and fees have constantly been on the rise.
What is your thought concerning the ethereum network? And what can we expect to change in the ethereum network shortly?

You haven't felt that for real? I've felt that much when it has hit $4k because I've sold a lot during its priced in $1k~ish. I've felt that the value has been greatly upwards but, if it's about the transaction fee(gwei), I don't feel the upgrade. Since it's about burning of ethereum per transaction, it focuses on the value not on the fees. There might be another upgrade soon that's going to focus with decreasing the fees. Before the London fork, the fees were totally done and I've seen as low as 1 gwei.

[StarKay]

What is your thought concerning the ethereum network? And what can we expect to change in the ethereum network shortly?

Ethereum will continue to be the Blockchain of choice for creating smart contracts despite the not so pleasant transaction fees because of it's popularity and also versatility. I expect the Devs to quickly solve the challenge of high tx fees ASAP otherwise new projects that doesn't have much capital will move to cheaper alternatives chain.
About ETH price, it's already so high because we're in a bull run so don't expect some coin burn to have a significant impact.

[aprilnot]

Since the implementation of ethereum 2.0 London hard forks in August, a total of 1 million ethereum have been burned but ethereum price deflationary is not felt yet, and still, the ethereum network congestion has continued to soar and fees have constantly been on the rise.
What is your thought concerning the ethereum network? And what can we expect to change in the ethereum network shortly?

I only have one hope, I want the gas fee to return to normal. I want GAS to be under 20 gwei for every transaction. Yesterday's hard fork did not solve this problem. and I seem to have given up on this unfriendly network. Burned ethereum only affects the price. it doesn't solve the real problem. we need a better solution, or ethereum will end.

[cryptoaddictchie]

Aside from burning the supply, scaling should be the main priority by eth, which we all hope so the gas fee would rather by low. I'm also one of eth trader that probably chooses to focus on other blockchain for this reason. I love trading on eth dexes but the fees that will incurred me isn't worth it so I am definitely gonna wait for eth if their ready to fixed everything.

[RILWAN]

Aside from burning the supply, scaling should be the main priority by eth, which we all hope so the gas fee would rather by low. I'm also one of eth trader that probably chooses to focus on other blockchain for this reason. I love trading on eth dexes but the fees that will incurred me isn't worth it so I am definitely gonna wait for eth if their ready to fix everything.

Same as me I abandoned ethereum trading for BSC blockchain because of the high fees which consume more than the profits, I was excited when the London hard forks were mentioned thinking it was going to eradicate the problem of high fees but up till now it persists