Justin Sun, the founder of the Tron blockchain, forecasts that Ethereum’s price will rise to $5,000 in the coming months. His prediction comes as Ethereum prepares to mark its 10th anniversary in July 2025. The bold prediction has stirred considerable interest within cryptocurrency circles, especially given that Ethereum is presently valued below $2,000. According to data from Coingecko, the second-largest cryptocurrency is currently valued at approximately $1,789.
Sun expressed his views on X (formerly Twitter), noting a personal significance tied to the launch date of Ethereum. His birthday falls on July 30, coinciding with the launch of Ethereum in 2015. The founder of Tron seized this opportunity to partner with the Ethereum Foundation in promoting the forthcoming birthday celebrations. His $5,000 price target represents nearly a 200% increase from current levels.
The Foundation is set to organize global celebrations for its anniversary. Reports from the Ethereum Foundation indicate that the 10-year anniversary will feature global birthday celebrations of various scales. Entities and individuals have the opportunity to organize local events to engage in the celebration. The Foundation’s Ecosystem Support Program will reimburse up to $500 in costs per event to facilitate the occurrence of these events. Individuals seeking to apply are required to submit their applications by June 15, 2025. The Foundation aims to create a “global holiday” atmosphere surrounding the anniversary, fostering community engagement from diverse countries and regions. Sun’s Four-Step Plan for Ethereum Growth
Sun didn’t stop at mere projections – he outlined a definitive strategy he believes will propel Ethereum to the $5,000 mark swiftly:
- The Ethereum Foundation ought to abstain from selling ETH for at least three years to mitigate supply and encourage holding.
- Rather than relying on token sales, the Foundation could utilize lending and staking platforms like AAVE to support its operational financing.
- The Foundation must streamline its team, retaining only the top developers and offering them improved compensation to elevate output quality.
- Development should focus on strengthening the core Layer 1 network rather than spreading resources too thin across numerous side projects.
Despite hosting thousands of decentralized applications and popularizing smart contracts on a global scale, Ethereum continues to grapple with a range of challenges. Users frequently express dissatisfaction regarding issues such as exorbitant gas charges, sluggish transaction speeds, and inadequate scalability. In the interim, an upgrade referred to as “Pectra” is scheduled for implementation in May 2025, which could potentially address several of these issues. The upgrade is reported to lower transaction fees and improve contract enforcement across the network.
Sun’s endorsement of Ethereum is noteworthy, particularly given his leadership of Tron, which is frequently regarded as a rival blockchain. Notwithstanding this evident competition, he continues to hold ETH and frequently commends Ethereum’s advancements. The market’s reaction to Sun’s optimistic forecast is yet to be determined, as Ethereum will require considerable momentum to achieve the anticipated $5,000 mark from its present price level.