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Justin Sun’s Plan to Push Ethereum to $10K
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Sun, known for his controversial moves in the blockchain world, recently outlined a strategy.
His proposals aim to drive Ethereum’s deflationary growth and long-term success.
Sun’s Plan: Halt Sales, Tax Layer 2, and Boost Fee Burns
Sun proposed a three-year halt on Ethereum sales. He calls it a necessary move to prevent market flooding and maintain scarcity. This freeze, according to Sun, would reduce sell pressure and keep ETH holders focused on long-term gains.
In what could ruffle some feathers, Sun suggested heavy taxes on Layer 2 projects like Arbitrum and Optimism. These projects run on Ethereum but don’t directly contribute to Layer 1 revenue. He argued that these taxes would funnel more resources into Ethereum’s main chain. This will ensure that it remains the backbone of the ecosystem.
If EF and Ethereum Were Under My Leadership
“#ETH to $10,000”
My First Week Plan
1. Halt ETH Sales immediately and Optimize Revenue
EF will immediately cease selling ETH for at least three years. Operational costs will be covered through AAVE lending, staking yields, and…
— H.E. Justin Sun
(@justinsuntron) January 22, 2025
More About Justin Sun’s Vision to Propel Ethereum to $10K
Also, Sun said that he wants to streamline the Ethereum Foundation’s (EF) operations, which he believes will help Ethereum reach its full potential. In a statement, Sun said that the EF would undergo a drastic downsizing, keeping only the most capable team members. Sun further proposed that the remaining EF staff would receive significant salary increases, designed to attract top talent and ensure the most capable individuals are leading Ethereum’s development.
All resources within the Ethereum Foundation, according to Sun, would then be redirected toward Ethereum’s core Layer 1 development. He emphasized that scalability, security, and adoption would be the main priorities moving forward. Sun is confident that, with these changes, Ethereum could see its price skyrocket to $10,000.
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January 23, 2025 at 05:41AM
January 23, 2025 at 05:45AM
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