A lot of a digital money called Ether was destroyed by sending it to a place where no one can use it. This happened because of an update in the system that uses Ethereum, which is another way people trade and use digital money. This means there will be less Ether available for everyone, making it more rare and valuable over time. Read from source...

- The article title is misleading and sensationalized. It implies that a large amount of Ether was destroyed on purpose or accidentally, which is not the case. The correct term for this process is "burning", not "wasted". Burning Ether reduces the supply of the token, but does not destroy its value or utility.
- The article fails to explain the technical details and implications of EIP-1159, which is a major update to the Ethereum network that affects transaction fees and inflation. This proposal changes the way Ether is issued and burnt, creating a deflationary mechanism that could potentially make ETH more scarce and valuable over time.
- The article does not provide any context or comparison for the amount of Ether burned, such as how it relates to the total supply, the annual issuance rate, or the market capitalization of Ethereum. For example, how many Ether are issued or burnt per day, week, month, or year? How does this affect the demand and supply dynamics of ETH in the long run?
- The article uses vague and outdated terms such as "Ethereum 2.0" without clarifying what it means or when it will happen. Ethereum 2.0 is a multi-year transition to a proof-of-stake consensus mechanism, which aims to improve scalability, security, and energy efficiency of the network. However, this project has faced several delays and challenges, and the exact launch date is unknown.
- The article includes irrelevant or promotional information such as links to external resources, tools, and services that do not add any value or insight to the topic. For example, why include a link to "How to Buy Ethereum" in an article about Ether burning? This seems like a blatant attempt to drive traffic to other pages on Benzinga's website.

One possible way to approach this task is to first identify the main drivers of Ether's price, such as the demand for block space, the fee market, the issuance rate, and the burn rate. Then, we can use these factors to estimate how much each unit of ETH contributes to or detracts from its value. Finally, we can combine this information into a set of investment recommendations that are tailored to different risk profiles and time horizons.

Here are some possible scenarios based on the data given in the article:

- Scenario 1: ETH continues to be a deflationary currency with a negative issuance rate and a high burn rate, leading to an increase in its scarcity and demand for block space. This would result in higher fees and more Ether being destroyed, which could boost the price of ETH significantly over time. In this case, we would recommend buying and holding ETH as a long-term investment, with a target price of $10,000 or higher by 2025. This scenario has a high risk profile, as it depends on several uncertain factors such as the adoption of Ethereum 2.0, the competition from other blockchain networks, and the regulatory environment.
- Scenario 2: ETH reverts to being an inflationary currency with a positive issuance rate and a low burn rate, leading to a decrease in its scarcity and demand for block space. This would result in lower fees and less Ether being destroyed, which could reduce the price of ETH over time. In this case, we would recommend selling or shorting ETH as a short-term trade, with a target price of $1,000 or lower by 2024. This scenario has a low risk profile, as it is based on more predictable factors such as the current issuance rate and the fee market.
- Scenario 3: ETH experiences a sudden shock that disrupts the balance between supply and demand, leading to a large and unpredictable movement in its price. This could be caused by an unexpected technical glitch, a major security breach, a legal dispute, or a regulatory crackdown. In this case, we would recommend avoiding ETH as a speculative asset, unless you are willing to accept very high volatility and uncertainty. This scenario has a medium risk profile, as it is possible but not guaranteed to happen.