Crypto Blog
On Nov. 12, Web3 venture capital firm Hack VC released research and analysis on Ethereum’s modular strategy.
The strategy has negatively impacted the ETH price in the short term due to reduced fees on the main network, leading to less token burn via EIP-1559. Lower fees mean reduced scarcity of ETH, which puts downward pressure on its price, the The researchers concluded that in the long term, Ethereum may emerge as a stronger player due to its “investment in fostering a broader ecosystem” as it is laying the foundation to “adapt, scale, and thrive” in the next wave of blockchain innovation.
At the time of writing, ETH was trading at $3,148 following a 5.5% daily dip; however, it remains up 31% since the same time last week.
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