Ethereum Price Will Hit $10K as ETH Scarcity Narrative ‘Strong in Practice,’ 1confirmation’s Tomaino Says

Nick Tomaino, founder of 1confirmation, has predicted that Ethereum (ETH) could surpass $10,000, citing the network’s deflationary supply and its growing dominance in decentralized finance, stablecoins, and the developer community. Tomaino believes that Ethereum’s scarcity narrative is as strong as Bitcoin’s, despite being more complex on the surface.

Tomaino, who previously worked as the business developer and marketing lead at Coinbase, shared his views on X, stating that while Bitcoin’s digital gold narrative is simple—21 million coins to be mined by 2140—Ethereum’s scarcity story is “not as simple on surface but equally strong in practice.”

He highlighted that Ethereum continues to attract top crypto developers, with layer-2 solutions like Coinbase’s Base being built on top of the network. Ethereum is also a primary platform for innovations, with successful use cases such as NFTs and stablecoins often starting on Ethereum before being adopted by other blockchains.

Tomaino pointed out that Ethereum’s dominance in these areas is undeniable. “Once a new use case works on Ethereum, every chain copies it,” he said, using NFTs and stablecoins as examples of Ethereum’s enduring leadership.

He also mentioned the growth of spot Ethereum ETFs, which had a slow start but saw increased inflows in late 2024. Tomaino expects these ETFs to drive further adoption of Ethereum staking, while layer-2 and layer-3 applications will enhance ETH’s utility as money.

As of now, Ethereum is trading at $3,329, down 32% from its all-time high of nearly $4,900 in November 2021. However, with continued network growth and increasing adoption, Tomaino remains confident that ETH will achieve $10,000 in the future.