Justin Sun intends to raise Ethereum’s price to $10,000 by taxing Layer 2 solutions, stopping ETH sales, and concentrating on core development.
Justin Sun, the founder of Tron, has outlined a bold strategy to push the price of Ethereum (ETH) closer to $10,000. Sun’s plan calls for taxing Layer 2 solutions, stopping ETH sales, and concentrating on Layer 1 development.
These bold actions guarantee long-term growth and solidify the token’s position in the cryptocurrency market.
In addition to optimizing the supply of ETH, Sun’s strategy is establishing a deflationary system to boost market trust and draw in additional investment. His strategy comes as the dynamics of the token market keep changing.
Justin Sun’s Ambitious Plan to Raise Ethereum Price
Justin Sun revealed his strategy on X to raise the price of Ethereum to $10,000 on January 22. For the next three years, the founder of Tron suggests that the Ethereum Foundation (EF) stop selling ETH. Sun thinks that by halting sales, supply will stay steady, bolstering a deflationary market theory.
To ensure long-term sustainability, Sun also intends to use stablecoin borrowing, staking profits, and AAVE lending to pay for operating expenses. To support the price increase of ETH, he envisions reorganizing the ecosystem and developing a more effective system.
Justin Sun Ethereum & Layer 2 Solutions Vision
Justin Sun has made waves in the cryptocurrency sector by being outspoken about his ideas. He also praised Donald Trump, the recently elected US president, emphasizing the possibility of crypto-friendly legislation. One crucial tactic is Sun’s planned tax on Layer 2 solutions, which aims to raise at least $5 billion annually.
The repurchase and burning of all taxes collected will fuel the deflationary aspect of ETH. Tron’s founder intends to expand Ethereum’s value proposition, guaranteeing its long-term scalability and supporting its core development.
Market Update and Price Context for ETH
The price of Ethereum has not changed over the last day, hovering between $3,265 and $3,366. With $26 billion in 24-hour trading volume, it showed a 36% decline. Notably, today’s open interest in ether futures remained close to the flatline.
However, even with the volatility, big investors remain interested in ETH. Whales have amassed more than $1 billion in ETH in recent days.
Justin Sun, the founder of Tron, has contributed to the market dynamics by depositing 227,000 ETH to the cryptocurrency exchange HTX in recent months. Sun’s action and his ambitious aspirations for Ethereum may have a further impact on the price trend of ETH.
