With no short-term solution in sight for the surging network fees, some investors are afraid that Ether (ETH) price could face a correction. The EIP-1559 proposal is set to be bundled with the impending London upgrade, and this will change the gas fee structure, but traders are left to deal with high fees until then.
The flexible block size proposal aims for a more predictable fee pricing model, but this upgrade is scheduled for July, meaning, in the short term, Ether could be subject to price pressure. Adding to this, miners have been expressing concerns as the new proposal aims to burn part of the fees to create scarcity, reducing their income by up to 50%.
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