CoinVoice has recently learned that Nick Tomaino, the founder of 1confirmation, stated on X: 'We support Ethereum because we care about the truth and hope you win, even though 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 congregate. DeFi, NFTs, stablecoins, prediction markets, decentralized social media, and more are all Ethereum-first platforms, and it's likely that breakthrough games, payments, AI agents, X-to-earn applications, and others will emerge from here. Preemptively 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 these two use cases on Ethereum is undeniable. On-chain usage drives value for ETH holders because ETH has an excellent monetary policy. Transaction fees are burned, so as usage increases, if the amount of ETH burned exceeds staking rewards, the supply will decrease. Bitcoin has a simple digital gold narrative that institutions have embraced: a total supply of 21 million by 2140. Ethereum's scarcity narrative is not as straightforward on the surface, but it is equally powerful in reality. The distribution of ETH as a currency is currently happening simultaneously at both institutional and local levels. In the last five months of 2024, the fund inflow into ETH ETFs has been strong, but it is expected to accelerate in 2025 as Wall Street deepens its understanding of ETH, and ETFs will also begin staking. Meanwhile, the growth of applications on L2s and the upcoming L3s will accelerate the local adoption of ETH as a currency.
