Ethereum price to hit $10,000 as ETH scarcity narrative is 'strong in practice', says 1confirmation's Tomaino

ethereum's scarcity narrative is “equally strong” as bitcoin's in practice, says 1confirmation's Nick Tomaino, predicting eth's price will surpass $10,000.

ethereum (eth) growth and deflationary supply make $10,000 achievable, says 1confirmation founder Nick Tomaino, citing the network's dominance in decentralized finance, stablecoins and the developer community as key drivers of the long term value.

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Tomaino, who was also a business developer and marketing leader at Coinbase between 2013 and 2016, argued in <a target="_blank" href="https://x.com/NTmoney/status/1874134534293541008″ target=”_blank” rel=”nofollow”>a recent x post that ethereum's scarcity narrative is “equally strong” as bitcoin's in practice, although “it's not as simple on the surface.”

“btc has a simple digital gold narrative that institutions have accepted: 21 million in 2140. The eth scarcity narrative is not so simple on the surface, but equally strong in practice.”

Nick Tomaino

Tomaino noted that “top cryptocurrency developers are still building on ethereum just as they have for the last 7+ years,” pointing to layer 2 solutions like Coinbase's Base, which are built on top of ethereum. He also emphasized ethereum's role as a sandbox for innovations, explaining that successful use cases often start on ethereum before being copied by other chains.

“Once a new use case works on ethereum, every chain copies it. See nfts and stablecoins as two examples. However, ethereum’s dominance in these two use cases is undeniable.”

Nick Tomaino

Although ethereum spot ETFs got off to a slow start, inflows increased in late 2024 and could grow even further in 2025, Tomaino says, expecting ETFs to drive staking adoption, while layer 2 and 3 applications will drive the use of eth as money. At press time, ethereum (eth) is priced at $3,329, down 32% from its all-time high of nearly $4,900 in November 2021.