The Ethereum scarcity narrative is practically “as strong” as Bitcoin, says Nick Tomaino of 1confirmation, who predicts the ETH price will exceed $10,000.
Ethereum’s (ETH) growth and deflationary supply make $10,000 feasible, says 1confirmation founder Nick Tomaino, citing the network’s dominance in decentralized finance, stablecoins and developer community as key drivers of long-term value.
Tomaino, who was also a business developer and marketing leader at Coinbase between 2013 and 2016, argued in a recent X-post that Ethereum’s scarcity story is in practice “as strong” as Bitcoin’s, although it is “not so simple on the face of it.”
“BTC has a simple story about digital gold that institutions have bought into: 21 million by 2140. The ETH scarcity story is not so simple on the surface, but just as strong in practice.”
Nick Tomaino
Tomaino noted that “the top crypto developers are still building in Ethereum, just as they have for the past seven years,” pointing to layer 2 solutions like Coinbase’s Base, which are built on top of Ethereum. He also highlighted Ethereum’s role as a sandbox for innovations, explaining that successful use cases often start on Ethereum before being copied by other chains.
“As soon as a new use case works on Ethereum, every chain copies it. See NFTs and stablecoins as two examples. However, Ethereum’s dominance in these two use cases is undeniable.”
Nick Tomaino
Although spot Ethereum ETFs got off to a slow start, inflows picked up in late 2024 and could grow even further in 2025, Tomaino says. He expects ETFs to drive staking adoption, while tier 2 and tier 3 apps will drive the use of ETH as money. At the time of writing, Ethereum (ETH) is priced at $3,329, down 32% from its all-time high of nearly $4,900 in November 2021.
