Gas fee proposal could create ‘positive feedback loop’ for ETH price: Grayscale
Grayscale believes EIP-1559, a proposal to burn Ethereum gas fees, could be extremely bullish for Ether’s price. Institutional crypto fund manager Grayscale Investments believes the introduction of the proposed EIP-1559 fee and burn mechanism could create “a positive feedback loop for Ether’s price” should network activity continue to increase on Ethereum.That’s because the proposal could result in Ether being burned at a rate exceeding the creation of new supply, significantly shifting the supply-demand dynamic underpinning the ETH markets.In Grayscale’s Feb. 4 report, Valuing Ethereum,....
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“I think all options are on the table,” said the Grayscale CEO, adding that the company has put its “full resources” into converting its flagship Bitcoin trust. Grayscale CEO Michael Sonnenshein said the firm is gearing up for a legal fight if Grayscale’s Bitcoin Spot ETF product is denied by the United States Securities and Exchange Commission (SEC).In an interview with Bloomberg on Tuesday, March 29, Sonnenshein was asked if he would consider the Administrative Procedure Act (APA) lawsuit option if the application for its Bitcoin Spot ETF was denied by the financial regulator.“I think....