Is ‘ETH to $10k’ possible? Ethereum’s Vitalik Buterin envisions ‘The Surge’

• Buterin proposed solutions to solve Ethereum’s core issue.
• Meanwhile, the Bankless co-founder envisioned ETH going to $10K.

At the 2024 Shanghai International Blockchain Week, Ethereum [ETH] co-founder Vitalik Buterin revealed what he saw as the network’s biggest issue—ecosystem fragmentation.

As reported by crypto media outlet Wu Blockchain on X (formerly Twitter), Buterin remarked that Ethereum operated like “34 different chains,” highlighting the challenges this poses to scalability, user experience, and cross-chain interactions.

Vitalik’s solution to unify Ethereum

In response to this statement, Buterin took to X and detailed his vision for Ethereum’s next possible upgrade, “The Surge.”

One of the upgrade’s primary goals is to enable Ethereum to process over 100,000 transactions per second (TPS) across both Layer 1 (L1) and Layer 2 (L2) solutions. 

Source: Vitalik Buterin/X

In addition, Buterin emphasized the importance of preserving the decentralization and robustness of Ethereum’s L1. This would ensure that it remains resilient and secure even as the network scales.

He also stressed that some L2s should fully inherit Ethereum’s foundational properties. These include being trustless, open, and resistant to censorship.

Another crucial aspect of The Surge is maximizing interoperability between L2s.

Buterin believes that if L2s are to be considered a true extension of Ethereum, the experience of using the L2 ecosystem should feel seamless and unified as if interacting with a single ecosystem.

The Surge marked the second part of Ethereum’s future upgrades.

Earlier this week, AMBCrypto highlighted the co-founder’s proposed improvements for Ethereum’s Proof-of-Stake (PoS) system. These changes align with his broader vision for the platform’s continued evolution. 

ETH posts double-digit gains

Amid these developments and the ongoing ‘Uptober’ buzz, ETH’s price has shown recovery from its early October lows.

At press time, the altcoin was trading at $2,631, up by 10% over the last 24 hours. 

Source: TradingView

The RSI reading of 60.50 indicated that there was still room for growth as ETH is far from being overbought. 

Moreover, the OBV was treading higher, closing at 42.894 million. This lent further validation to the bullish momentum.

If the buying pressure continues, ETH bulls can likely flip the $2,700 resistance in the near future. 

Ethereum’s $10K outlook

As Ethereum continues its ambitious journey, Ryan Sean Adams, co-founder of Bankless, remains highly bullish on the asset’s future. Adams recently noted its untapped potential. He wrote on X,

“ETH to $10k. The market is massively undervaluing Ethereum rn.”

With upcoming changes poised to improve the network, Adams’ projection might not be far-fetched.