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

Ethereum scarcity narrative is “equally strong” to Bitcoin in practice, says 1confirmation’s Nick Tomaino, predicting ETH price to surpass $10,000.

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

We bull post ETH because we care about truth and want you to win despite what losers on X tell you. It’s going to $10K+ regardless.

Facts:

– The best crypto developers are still building in Ethereum just like they have been for the past 7+ years. L2s like Base and are where the…

— Nick Tomaino (@NTmoney) December 31, 2024

Tomaino, who was also business developer and marketing lead at Coinbase between 2013 and 2016, argued in a recent X post that Ethereum’s scarcity narrative is “equally strong” to Bitcoin’s in practice, though it’s “not as simple on surface.”

“BTC has a simple digital gold narrative that institutions are have bought into: 21M in 2140. ETH scarcity narrative is not as simple on surface but equally strong in practice.”

Nick Tomaino

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Tomaino noted that the “best crypto developers are still building in Ethereum just like they have been for the past 7+ years,” pointing to layer-2 solutions like Coinbase’s Base, which are built atop 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. Ethereum dominance in these two use cases is undeniable though.”

Nick Tomaino

Although spot Ethereum ETFs had a slow start, inflows picked up in late 2024 and could grow even more in 2025, Tomaino says, expecting ETFs to boost staking adoption while layer-2 and layer-3 apps will drive ETH’s use as money. As of press time, Ethereum (ETH) is priced at $3,329, down 32% from its all-time high of nearly $4,900 in November 2021.

Read more: Ethereum could surge to $6K by Q1 2025 as multiple bullish patterns emerge

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