Ethereum risks falling to $1,970 as Buterin challenges ETH fee-burning narrative

Key takeaways Ethereum (ETH) is up 1.3% on Tuesday as co-founder Vitalik Buterin sparked debate over the cryptocurrency’s long-term value proposition. Bitmine Immersion Technologies acquired another 9,587 ETH, increasing its holdings to 6.07 million tokens, representing approximately 4.97% of Ethereum’s circulating supply. ETH risks extending its decline toward $1,971 if the $2,101 support level fails, while resistance remains at $2,204 and $2,250. Ethereum (ETH) has slightly recovered on Tuesday following renewed selling pressure on Monday. The performance comes as investors weighed a debate over the cryptocurrency’s long-term value proposition following comments from co-founder Vitalik Buterin. Vitalik Buterin questions Ethereum’s fee-burning investment narrative Buterin argued that Ethereum’s investment appeal should rest primarily on its ability to function as a secure, decentralized store of value rather than the amount of ETH removed…

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