1confirmation Founder: Ethereum Will Eventually Break $10,000

BlockBeats News, January 1st, 1confirmation's founder Nick Tomaino published a post on X stating, "We support Ethereum because we care about the truth and want you to succeed, despite what some people on X may tell you. Either way, Ethereum will break $10,000. The fact is:

· The best crypto developers are still building on Ethereum, just as they have been for over seven years. Layer 2 solutions like Base are where builders congregate. DeFi, NFTs, stablecoins, prediction markets, decentralized social, and more are all Ethereum-first platforms, with likely breakthrough applications such as gaming, payments, AI agents, X-to-earn, and others emerging from here.

· Being early to new use cases brings strong, defensible network effects. Once a new use case succeeds on Ethereum, other chains copy it. Taking NFTs and stablecoins as examples, Ethereum's dominance in these two use cases is undeniable.

· On-chain usage drives value to ETH holders, as ETH has an excellent monetary policy. Transaction fees are burned, so as usage increases, if the amount of ETH burned is greater than staking rewards, the supply will decrease. Bitcoin has a simple digital gold narrative, recognized by institutions: a total of 21 million by 2140. While Ethereum's scarcity narrative may not be as straightforward on the surface, it is equally powerful in practice.

· ETH's monetary distribution is now happening simultaneously at the institutional and grassroots levels. In the last five months of 2024, inflows into ETH ETFs were strong, but are expected to accelerate in 2025 as Wall Street's understanding of ETH deepens, and ETFs also begin staking. Meanwhile, growth in applications on L2 and upcoming L3 will accelerate ETH's grassroots adoption as a currency.