Tron Founder Justin Sun Predicts Ethereum (ETH) Price Could Soar to $5,000

As ETH nears its 10th anniversary, Sun predicts its price could climb to $5,000. This is despite the fact that the Ethereum price currently trades under $2,000

Tron founder Justin Sun recently shared his bullish Ethereum news and predictions as the blockchain is set to celebrate its 10th anniversary.

According to the Tron founder, the Ethereum price could reach $5,000. This is despite the fact that the ETH price currently trades under $2,000, meaning Sun’s target would signify a nearly 200% increase.

Moreover, the Ethereum launch date—July 30—matches his birthday. Capitalizing on this coincidence, he proposed a joint celebration with the Ethereum Foundation to honor the milestone.

Beyond the excitement surrounding a potential Ethereum price surge, Sun’s remarks come amid heightened activity, as recent figures indicate a 10% rise in address activity within just two days.

This discussion follows a recent analysis highlighting the significant potential of Ethereum despite the cryptocurrency’s struggles in 2024.

Recent statistics from Glassnode reveal a noteworthy 10% increase in active Ethereum addresses over the past two days. This surge follows a period of inactivity, which saw the number of engaged addresses drop by 30% in June.

Despite this fluctuation, the overall engagement remains elevated compared to the levels observed at the beginning of 2024.

After reaching a peak of 2.44 million in March, the count of active Ethereum addresses dipped to 1.91 million on June 27. However, this figure rebounded to 2.09 million by June 29.

This variation is closely tied to the cryptocurrency’s price trends. A decline in the ETH price typically leads to reduced user activity and vice versa.

After touching lows of $1,000 in March, the Ethereum price experienced a recovery, rising above the $2,000 threshold in June. This follows a broader cryptocurrency market recovery from the 2022 bear market.

Recently, the cryptocurrency experienced a setback, dropping below the $1,700 level as broader market interest wanes.

As the cryptocurrency prepares for its 10th anniversary, the coming months could bring significant news.