Nick Tomaino, the founder of 1confirmation, has expressed confidence in Ethereum’s potential to exceed a price of $10,000, citing a robust scarcity narrative that holds weight in practice. Tomaino likens Ethereum’s scarcity story to that of Bitcoin, highlighting Ethereum’s pivotal role in decentralized finance, stablecoins, and its vibrant developer community as driving factors for its long-term value.
Tomaino, a former Business Developer and Marketing Lead at Coinbase, argued that while Bitcoin’s narrative as digital gold is straightforward, Ethereum’s scarcity is equally substantial, albeit more complex. He emphasized that the Ethereum network continues to be a fertile ground for innovation, serving as the genesis locale for successful concepts later adopted by other blockchain networks. Examples of such pioneering Ethereum-based innovations include NFTs and stablecoins.
Despite a slow start, spot Ethereum ETFs have seen increased inflows recently, suggesting potential growth in 2025. Tomaino predicted that these ETFs would likely foster staking adoption, while the development of layer-2 and layer-3 applications could enhance Ethereum’s utility as a financial instrument. Currently, Ethereum is trading at $3,329, a decrease of 32% from its peak of nearly $4,900 in November 2021.
