According to ChainCatcher news, Nick Tomaino, founder of 1confirmation, posted on X: 'We support Ethereum because we care about the truth and want you to win, although some people on X will tell you otherwise. Regardless, Ethereum will break through $10,000. The fact is:
The best crypto developers are still developing on Ethereum, just as they have been for the past seven years. L2s like Base are where builders gather. DeFi, NFTs, stablecoins, prediction markets, decentralized social media, etc., are all Ethereum-first platforms, and it is likely that groundbreaking applications such as gaming, payments, AI agents, and X-to-earn will also emerge from here.
Proactively laying out 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, even though the dominance of these two use cases on Ethereum 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 straightforward digital gold narrative that institutions have already recognized: a total of 21 million by 2140. Ethereum's scarcity narrative may not seem simple on the surface, but it is equally powerful.
The distribution of ETH as currency is now 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. Meanwhile, the growth of applications on L2 and the upcoming L3 will accelerate the local adoption of ETH as currency.
