According to PANews on January 1, 1confirmation founder Nick Tomaino tweeted, 'Releasing a bullish post on ETH because I care about the truth, regardless of what people on platform X say. In any case, ETH will reach above $10,000.' The reasons for being bullish on Ethereum are:
The best crypto developers are still developing on Ethereum, just as they have been for the past seven years.
Early positioning for new use cases will bring powerful, defensible network effects. Once a new use case succeeds on Ethereum, other chains will replicate it. Take NFTs and stablecoins as examples; the dominance of Ethereum in these two use cases is undeniable.
On-chain usage drives value for ETH holders, as ETH has an excellent monetary policy. Transaction fees are burned, so as usage increases, if the amount of ETH burned exceeds the staking rewards, the supply will decrease. Bitcoin has a simple digital gold narrative that institutions have recognized: a total of 21 million by 2140. In contrast, Ethereum's scarcity narrative is not superficially simple, but is equally powerful.
The distribution of ETH as currency is currently happening simultaneously at both institutional and local levels. In the last five months of 2024, the inflow of funds into ETH ETFs has been strong, but it is expected to accelerate in 2025 as Wall Street's understanding of ETH deepens, and ETFs will also begin staking. At the same time, the growth of applications on L2 and the upcoming L3 will accelerate the local adoption of ETH as currency.
