Justin Sun has revealed a plan that could reshape Ethereum’s ecosystem and push the price of its native cryptocurrency to $10,000.
The Tron founder outlined how, if in charge, he would manage the Ethereum Foundation (EF) and the Ethereum network.
Details From the Plan
According to a January 22 post on X, the plan begins with an immediate halt to ETH sales, with Sun suggesting that the EF stop selling the token for at least three years.
Instead, the foundation would fund its operations using AAVE lending, staking yields, and stablecoin borrowing. By preserving ETH’s supply, he believes it can maintain its deflationary trajectory and build market confidence.
The Liberland Prime Minister also proposed imposing higher taxes on Ethereum Layer 2 projects, a move he believes can generate $5 billion annually. According to him, the collected funds would then be used to repurchase ETH and burn it in a decentralized manner, further reducing supply and increasing value.
Sun also suggested downsizing staff at the EF to retain only the most capable individuals and rewarding them with significant salary increases. He believes this merit-based approach would boost efficiency and align the organization’s efforts with tangible results.
To reinforce Ethereum’s deflationary model, the executive proposed cutting node rewards and prioritizing fee-burning mechanisms. He claimed these adjustments would help cement the network’s reputation as a store of value.
Finally, the 34-year-old stressed the need to focus all resources on Layer 1 development. He argued that Ethereum could see significant growth by prioritizing scalability, security, and adoption at this foundational level. He concluded by asserting:
“With these decisive actions, ETH is poised to break $4,500 within the first week, setting the foundation for long-term success.”
Leadership Scrutiny and Community Concerns
The proposal comes amid heightened scrutiny of the EF’s leadership and operations. Aya Miyaguchi, executive director since 2018, has faced backlash from community members who accuse her of inefficiency. Many are now calling for developer Danny Ryan to take on a more prominent leadership role.
In response, Ethereum co-founder Vitalik Buterin announced on January 18 that leadership changes are underway. These adjustments aim to support decentralized app developers and promote a more distributed ecosystem.
The non-profit has also gotten criticism for selling ETH to cover expenses, prompting calls for alternative funding methods. Meanwhile, the token has struggled during the current bull market, lagging behind other leading altcoins and frustrating holders.
A Santiment report linked the underperformance to community reproach of Buterin for selling large amounts of ETH, which some see as a lack of confidence in its future.
Despite this, Santiment noted that the current wave of negativity could signal a turning point. Markets often move against prevailing sentiment, and the analysis suggested that ETH might finally break past the $4,000 mark if frustrated retail traders sell their holdings to long-term investors.
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