1confirmation’s Nick Tomaino said that Ethereum’s scarcity thesis is actually “as strong” as Bitcoin, predicting ETH prices to exceed $10,000.
Nick Tomaino, founder of 1confirmation, said $10,000 is possible due to Ethereum’s (ETH) growth and deflationary supply, and said the network’s growth in decentralized finance, stablecoins, and developer communities is possible. states that superiority is the main driver of long-term value.
Tomaino, who was also a business developer and head of marketing at Coinbase from 2013 to 2016, said in a recent post on claimed that it was “as strong” as Bitcoin.
“BTC has a simple digital gold story that financial institutions buy into: 21 million in 2140. ETH’s scarcity story is less simple on the surface, but just as strong in practice.” is.”
Nick Tomaino
Tomaino pointed out that “the best cryptocurrency developers are still building on Ethereum, as they have been doing for the past seven-plus years,” adding that Layer 2 solutions like Coinbase’s Base built on top of Ethereum. pointed out. He also emphasized Ethereum’s role as a sandbox for innovation, explaining that successful use cases often start on Ethereum before being copied to other chains.
“Once a new use case works on Ethereum, all chains copy it. See NFTs and stablecoins as two examples. However, Ethereum’s dominance in these two use cases is denied. you can’t.”
Nick Tomaino
Spot Ethereum ETFs have been slow to start, but inflows could pick up in the second half of 2024 and increase further in 2025, Tomaino said, adding that ETFs will drive adoption of staking and support Layer 2 and Layer 3. We expect that this app will promote the use of ETH as a currency. At the time of writing, the price of Ethereum (ETH) is $3,329, down 32% from its all-time high of around $4,900 in November 2021.
