‘ETH to $10,000’ Plan Presented by Tron Founder Justin Sun

Justin Sun, who founded Tron blockchain, has taken to social media to reveal how he would push the second most popular cryptocurrency Ethereum up to make it reach $10,000 if he were in charge.

Curiously, he expects a 35.9% price surge to happen within the first week already.

Justin Sun’s “ETH to $10,000” plan: steps to success

Sun tweeted that if the Ethereum Foundation (EF) and Ethereum were under his leadership, he would execute the following “ETH to $10,000” plan with his team.

Step one. During the first week, he would “halt ETH sales and optimize revenue.” The EF, he said, would stop selling ETH for at least three years. As for the operational costs, those would be covered by means of “AAVE lending, staking yields, and stablecoin borrowing.” This would make sure that the ETH supply remained untouched and intact, which would certainly align with the goals of making ETH deflationary and of reinforcing market confidence in the coin.

Step two. The next step Sun would take to achieve his goal would be taxing all layer-2 solutions in order for Ethereum to generate a minimum of $5 billion per year in taxes. With those proceeds, Ethereum Foundation would repurchase ETH and burn it in decentralized ways. Sun particularly stressed the importance of this step.

Step three. Justin Sun’s third action would involve the EF itself. He wrote that he would perform a “drastic downsizing” of the EF staff to retain only “only the most capable team members.” As for the rest of the team, their salaries would be raised substantially and thus the Foundation would be converted into “purely merit-based system that rewards performance and results.”

Final moves to $10,000

Step four. As the final step in this plan, Justin Sun said he would reduce node rewards and concentrate fully on fee-burning mechanisms. Thus, he would make certain that Ethereum would remain deflationary and would strengthen its position as a store of value.

Step five. The final steps includes an exclusive focus on layer 1 to help Ethereum reach $10,000. Sun specified that in this case he would redirect all resources towards the development of ETH core layer 1, “prioritizing scalability, security, and adoption.” In this case, he said, Ethereum would soar to $4,500 within the first week and then eventually would hit $10,000 per coin.