As Ethereum’s price lingers below its all-time high of $4,878, TRON founder Justin Sun has proposed a transformative plan to catapult the altcoin to unprecedented heights. In a recent post on X (formerly Twitter), Sun outlined a series of strategic changes aimed at revolutionizing Ethereum’s ecosystem, with a bold target of $10,000 per ETH.
Key Proposals for Ethereum’s Growth
Halting ETH Sales for Supply Stability
Central to Sun’s vision is the proposal to halt the sale of Ethereum for a minimum of three years. This approach aims to stabilize the token’s supply, reduce sell pressure, and instill market confidence. To address operational expenses during this period, Sun suggests utilizing Aave lending, staking yields, and stablecoin borrowing. These measures align with Ethereum’s deflationary goals and could reinforce its position as a store of value.
Taxing Layer 2 Projects for Revenue
Sun proposes imposing significant taxes on Layer 2 (L2) projects, estimating that this could generate an annual revenue of $5 billion. The funds would be allocated to repurchasing and burning ETH, enhancing scarcity and potentially driving up demand.
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Streamlining the Ethereum Foundation
Sun advocates for a merit-based overhaul of the Ethereum Foundation (EF). This includes significant staff reductions, retaining only the most capable team members, and offering them substantial salary increases. Such restructuring aims to transform the EF into a high-performance organization, focused on scalability, security, and adoption.
Revising Node Rewards and Fee-Burning Mechanisms
To further solidify Ethereum’s deflationary status, Sun suggests reducing node rewards while increasing emphasis on fee-burning mechanisms. This strategy aligns with Ethereum’s broader goal of becoming a more valuable and scarce asset.
Short-Term and Long-Term Targets
Sun predicts that implementing these measures could drive Ethereum’s price beyond $4,500 within the first week, laying the foundation for its long-term success. He is confident that these initiatives could propel Ethereum to the $10,000 milestone, especially if adopted by Ethereum’s co-founders and developers.
Current Market Performance
As of now, Ethereum is trading around $3,200, reflecting a 4% decline in the past 24 hours. This leaves the token 34.5% below its all-time high, highlighting the gap Sun aims to close with his transformative vision.
