Tron founder Justin Sun, Ethereum (ETH) $3,292.2 announced an ambitious plan to raise its price to the $10,000 level. Sun’s proposal includes halting ETH sales, imposing a tax on Layer 2 solutions, and focusing on Layer 1 developments. These steps aim to strengthen the token’s position in the crypto market and ensure long-term growth.
Justin Sun and His Daring Plan
Justin Sun shared his plan on the X platform on January 22. Tron founder proposes to stop Ethereum Foundation (EF) selling ETH for the next three years. He thinks that with the sales halted, supply will remain stable, supporting a deflationary market model.
Additionally, Sun plans to use AAVE lending, staking returns, and stablecoin borrowings to cover operational costs. His vision is to restructure the ecosystem and create a more efficient system to support ETH’s price growth.
Justin Sun’s Vision for Ethereum and Layer 2 Solutions
Justin Sun made a splash in the crypto community by sharing his plan in detail. Stating his admiration for the newly elected President of the United States, Donald Trump, Sun emphasized the potential of crypto-friendly policies. The tax to be applied to Layer 2 solutions aims to generate at least $5 billion in revenue annually.
President Trump achieves extraordinary results every day. We must learn from his talents and try to achieve his success.
— HE Justin Sun
All taxes collected will be used to buy back and burn ETH. This will help strengthen the deflationary nature of the token. The Tron founder aims to solidify Ethereum’s long-term scalability and value proposition by focusing on its core improvements.
ETH Price
While the Ethereum price fluctuated between $3,265 and $3,366 in the last 24 hours, the 24-hour trading volume was recorded as $26 billion. Ether futures open interest remains near stable today. However, ETH remains a focus for large investors. Latest reports indicate that whales have accumulated more than $1 billion in ETH in the last few days.
Tron founder Justin Sun’s deposit of a total of 227,000 ETH into the HTX crypto exchange in recent months may also affect market dynamics. These moves by Sun for Ethereum could have an additional impact on ETH’s price direction.
Ethereum remains in a strong position in the cryptocurrency market, and Justin Sun’s plans could reinforce this.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
