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Ethereum To Reach $5K Before 10-Year Anniversary, Says Justin Sun
In a recent statement, Tron founder Justin Sun has expressed his expectations regarding the price of Ethereum (ETH) in the coming months. According to him, it is highly likely that ETH will reach a staggering $5,000 mark before its 10-year anniversary on July 30, 2025.
Sun’s prediction comes as a surprise, especially considering the current market value of ETH, which hovers around $1,771. While Ethereum has faced numerous criticisms over the years due to scalability issues and high transaction fees, Sun believes that these factors could be alleviated by an upcoming upgrade called Pectra, scheduled for May 2025.
In his statement on X (formerly Twitter), Sun not only made a bold prediction about ETH’s price but also proposed a clear strategy that could potentially help the cryptocurrency reach the target. According to him, the Ethereum Foundation should cease ETH sales for at least three years, thereby reducing the available supply and encouraging investors to hold onto their tokens for an extended period.
Sun went on to suggest implementing a lending and staking system, similar to AAVE, to cover the foundation’s expenses without selling ETH. He believes that this approach would provide significant advantages in terms of operational efficiency while ensuring the stability of Ethereum’s supply.
Furthermore, Sun advocated for changes within the Ethereum Foundation itself, recommending a smaller team with a focus on retaining top developers and increasing their compensation. He believes that this restructuring effort would lead to better work and a stronger Ethereum ecosystem.
As the 10th anniversary of Ethereum approaches, it remains to be seen whether Sun’s prediction will come true or not. The cryptocurrency is currently trading at around $1,771, as reported by CoinMarketCap, leaving much room for growth. Despite facing criticism in the past due to its limitations, Ethereum has managed to become the second-largest cryptocurrency by market value and has set a standard for smart contracts worldwide.
The cryptocurrency’s potential to reach $5,000 will undoubtedly be monitored closely by the crypto community and investors alike.
Source: https://bitcoinik.com/ethereum-to-reach-5k-before-10-year-anniversary/
