Ethereum price will hit $10k as ETH scarcity narrative ‘strong in practice,’ 1confirmation’s Tomaino says

1confirmation’s Nick Tomaino says the Ethereum scarcity narrative is “equally strong” in practice as Bitcoin, and predicts the ETH price will surpass $10,000.

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

We are bullish on ETH because we care about the truth and want you to win despite what the losers in X tell you. It will rise above $10,000 no matter what.

Facts:

– Top crypto developers are still developing on Ethereum as they have been for the last 7+ years. L2s love Base and here…

— Nick Tomaino (@NTmoney) December 31, 2024

Tomaino, who also served as a business developer and marketing lead at Coinbase between 2013 and 2016, argued in a recent

“BTC has a simple digital gold story that institutions are buying: 21 million in 2140. The ETH shortage story is not that simple on the surface, but it is just as powerful in practice.”

Nick Tomaino

Tomaino pointed to layer 2 solutions like Coinbase Base built on top of Ethereum, noting that “the top crypto developers are still building on Ethereum, just like they have for the last 7+ years.” He also emphasized Ethereum’s role as a sandbox for innovation, explaining that successful use cases often started on Ethereum before being copied by other chains.

“When a new use case runs on Ethereum, each chain copies it. Look at NFTs and stablecoins as two examples. But in these two use cases, Ethereum’s superiority is undeniable.”

Nick Tomaino

Although spot Ethereum ETFs got off to a slow start, inflows picked up in late 2024 and could rise further in 2025, Tomaino says, adding that ETFs will increase staking adoption while layer-2 and layer-3 applications will enable ETH to become currency. He says he will increase its use. As of the date of publication, Ethereum (ETH) is priced at $3,329, down 32% from its all-time high of approximately $4,900 in November 2021.