Justin Sun speculates that the price of Ethereum will hit $5,000 before July 2025, and its 10th anniversary.
The given price target by Sun is around 200% up compared to the current levels. So, Sun also made some plans to reach his given target. Justin Sun, a crypto billionaire and the founder of the Tron blockchain, has speculated that the price of Ethereum will hit $5,000 before its 10th anniversary in July 2025.
After this statement, some debates ignited in the crypto industry as the price of Ethereum is currently hovering below $2,000 and is at $1,807 at the time of writing. However, he retweeted a post of the Ethereum Foundation and mentioned, “Ethereum shares the same birthday as me; this date is truly meaningful. I suggest a 10x increase, let’s commemorate it together at $5,000.”
Sun Proposes Strategic Shifts to Drive Ethereum’s Price Surge
The given price target by Sun is around 200% up compared to the current levels. Sun also shared some plans to reach his given target. As per him, the Ethereum Foundation should stop selling ETH for around three years to restrict supply and encourage holding.
Rather than selling tokens, the Foundation should employ lending and staking platforms like AAVE to operate finances. Also, Sun advised that the Foundation must keep only the best developers to improve output quality.
He further went on to add that the development should be targeted at improving the core Layer 1 network rather than diluting resources in multiple projects.
At the time of writing, the price of Ethereum was 2.03% up in the past 24 hours and was hovering at $1,807. At the same time, the volume also witnessed a surge of 10.09% and is at $16.66 billion. The market capitalization is currently at $217.89 billion.
As per market analysts, if the prices go up, then the first resistance (1-day time-frame) that the token will test is $2,347, followed by the second resistance at $2,535. Now, the market members are excited to see if the target set by Justin Sun is achieved.