For those wondering on how new changes could make eth deflationary this is a great explanation on what is EIP 1559 (proposed by Vitalik) and how it could make eth deflationary in times of network congestion.
The proposal is to have an elastic base fees which goes up and down based on network activity, and reward miners through only block rewards and small tips. The base fee is burned.
So in times of heavy network activity base fee prices get raised and more eth is burned. The fee and as a result the burn rate of eth is directly correlated with network activity, which sounds great in theory.
View Reddit by rockyrosy – View Source