Ethereum Fusaka Will Be ‘The Most Bullish Upgrade’ | Crypto News
A pseudonymous analyst has set off a new narrative around Ethereum’s upcoming Fusaka improve, arguing it could possibly be the most favorable event ever for ETH as an asset by finally turning Layer-2 networks into significant ETH burners.
On X, crypto pundit Kira Sama framed Fusaka, scheduled for December 3, as a structural shift in Ethereum’s charge economics. The core of the thesis is a single change: EIP-7918.
“Price wise, Ethereum Fusaka upgrade on december 3rd, will be the most bullish upgrade for eth the asset ever, why? One reason. ‘EIP 7918’,” Kira wrote, calling it “the next big catalyst for eth burn.”
Ethereum L2 Will Burn ETH
Kira’s argument rests on how Ethereum presently treats L2s. Since the rollup-centric roadmap took form, Ethereum’s base layer has successfully backed L2 data availability. In his phrases, “for a long time, ETH L1 charged zero base fees to L2s, while L2 deployers made millions of profits. So L2s haven’t burnt any meaningful eth.” That backed regime has fueled explosive L2 growth but also restricted how a lot L2 usage interprets into ETH burn.
EIP-7918 is designed to change that by tying L2 data prices more tightly to mainnet gasoline costs. Kira summarizes it as follows: “L2 fees will be bounded by the execution cost which will help us reach L2 fees price discovery faster. It also helps maintain the fees during spikes so that L2 users won’t be rugged from absurd tx fees. Win-win.” In follow, that means rollups will face a non-trivial, protocol-enforced minimal on what they pay Ethereum for posting their batches.
Crucially for ETH holders, those charges are paid in ETH and a portion is burned under the EIP-1559 mechanism. Kira argues that as L2 throughput scales, this will change into a dominant driver of ETH’s burn dynamics: “They will just pay their fair share to Ethereum L1 and burn meaningful eth. It will be slow and steady at the beginning. This will eventually result in burning millions of dollars of eth long term and L2s will be main driving force of making eth deflationary.”
The narrative turns into more aggressive when Kira extrapolates to company and institutional rollups. He lists a sequence of present and anticipated L2s and claims that “Coinbase’s base will burn eth, Robinhood’s L2 will burn eth, OpenAI’s Worlchain will burn eth, Sony’s Soneium will burn eth, Alibaba’s Jovay will burn eth, UAE’s ADI chain burn eth, Kraken’s Ink will burn eth, Lighter will burn eth, Deutsche Bank’s Memento chain will burn eth, Arbitrum will burn eth etc etc etc. Corporations will start burning eth.”
From that, he extends the thesis to a broader, extremely bullish imaginative and prescient: “Every company in the world will launch their own layer 2. Every alt-L1 will become L2 and start burning eth. Eth inflation will shrink.” While those common claims go far past what the improve itself ensures, they seize the center of the bullish narrative: if enough financial exercise migrates onto Ethereum-secured L2s that must pay non-negligible base charges, Ethereum turns into the settlement and value-capture layer beneath company and institutional chains.
Kira explicitly compares Fusaka to the London arduous fork that launched EIP-1559 in 2021. “When Ethereum introduced burn through eip-1559 in 2021, it lifted the whole market up,” he wrote. “Everyone will be caught off guard this time as well. L2s burning eth incoming. Bullish eth. Bullish L2s.” For now, Kira is clear about his own conclusion: “December 3rd, tik-tok. The ticker is ETH.”
At press time, ETH traded at $3,022.
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