Justin Sun, the founder of TRON, has a big, audacious plan to boost Ethereum’s price to a whopping $10,000. He shared his ideas on X (formerly Twitter), outlining a complete overhaul of the Ethereum Foundation and its protocol.
Sun’s Ethereum Price Surge Strategy
Sun’s plan is ambitious, focusing on several key areas:
Halting ETH Sales: He proposes a three-year freeze on selling any ETH. This, he argues, will tighten supply and increase demand, boosting the price. To keep the lights on during this period, he suggests using Aave lending, staking rewards, and stablecoin borrowing to cover operational costs.
Layer 2 Taxes: Sun wants to impose hefty taxes on Layer 2 projects. He estimates this could generate at least $5 billion annually, which would then be used to buy back and “burn” ETH, further reducing supply and driving up the price.
Restructuring the Ethereum Foundation
Sun also calls for a major shakeup within the Ethereum Foundation itself:
Major Staff Cuts: He advocates for significant staff reductions, keeping only the top performers and giving them hefty raises. This, he says, would create a more efficient and merit-based organization.
Node Reward Adjustments: Sun proposes reducing node rewards and focusing more on fee-burning mechanisms. This would reinforce Ethereum’s deflationary nature and make it more attractive as a store of value.
Focus on Layer 1: Development efforts should concentrate solely on Layer 1 improvements, prioritizing scalability, security, and wider adoption.
Sun’s Predicted Results
Sun is confident that his plan could quickly push Ethereum’s price above $4,500 within a week of implementation, paving the way for its eventual $10,000 target. While this is just Sun’s vision, it’s possible some of his ideas could be adopted by Ethereum’s developers.
Currently, Ethereum is trading around $3,200, significantly below its all-time high of nearly $4,900.
