ETHEREUM $10,000
Justin Sun, the founder of Tron, one of the leading blockchain networks in the crypto industry, has presented a plan for how the Ethereum Foundation (EF) and the Ethereum network should be managed.
Sun claimed that this plan could push the price of Ethereum to $10,000. Sun’s proposal includes the Ethereum Foundation halting ETH sales for three years. He emphasized that operational costs should be covered by DeFi activities such as ETH lending, staking, and stable crypto borrowing on platforms like Aave.
“EF should not sell ETH for at least three years,” Sun said, adding that this step would preserve the ETH supply and increase market confidence. The proposal also includes imposing taxes on all layer-2 projects with an annual revenue target of $5 billion, and allocating this revenue to ETH buybacks and burns. Creating a more efficient organization with staff reductions and salary increases for remaining employees is also part of the plan.
Ethereum Foundation’s DeFi Transition Steps @Ethereum
The Ethereum Foundation has been criticized for opting for ETH sales instead of embracing DeFi strategies. According to Lookonchain data, the foundation has sold 4,666 ETH (about $13 million) since the beginning of 2024. Speaking on the criticism, Ethereum co-founder Vitalik Buterin said that they had not done staking in the past due to regulatory uncertainty, but these concerns have subsided and DeFi strategies are now being considered.
Buterin announced that the foundation plans to allocate 50,000 ETH to a new multi-signature wallet to participate in DeFi activities. These funds will be directed to various DeFi activities on the Ethereum network.
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