I know, I know – everyone’s been freaking out that Ethereum climbed back above $5000. Charts are predicting “cup and handle” formations, pundits are throwing out projections of $5,564 by the end of 2025. Good for investors, right? Let’s face it, what does all of this really mean for the everyday consumer? In our rush to reap all those gains, are we losing sight of the good?

$5K ETH Good For Whom Exactly?

Here's the thing: a $5,000 ETH could be fantastic. It could mean more investment in the Ethereum ecosystem, leading to faster development of decentralized applications (dApps) that solve real-world problems. Who benefits most from that?

Think about it. Right now, ETH is hovering around $2,500. Even at that price, it’s still quite expensive to use any dApps with the current gas fees. Now picture those fees doubling at the same time as the entire price. All of a sudden, those trailblazing solutions become out of reach for the very folks who need them the most.

Let's talk about Africa. I've been following some incredible projects using Ethereum for things like:

  • Financial Inclusion: Providing access to microloans and financial services for unbanked populations.
  • Supply Chain Transparency: Tracking goods and ensuring fair trade practices.
  • Land Registry: Creating secure and transparent land ownership records.

These aren’t just abstract ideas, but rather impactful projects that will improve and save lives. Let’s say the price of ETH goes to $5,000. All of a sudden, implementing these applications becomes cost-prohibitive for the very entities these apps are intended to help. Right now, are we building a future where only the privileged can afford to engage with this new decentralized revolution?

It’s akin to designing and constructing a gorgeous, cutting-edge hospital and ambulance and then making it so only the wealthy can pay to use their services. What's the point?

Web3 For All Or Just A Few?

Ethereum is currently being marketed as the infrastructure of Web3, the new decentralized internet of the future. As far as faster speeds, less energy usage and more user capacity – all wonderful benefits! If Web3 doesn’t bring the majority of the world along with it, is that really progress? It’s past time to reexamine our underpinnings.

We need to be asking ourselves: Are we building another system that reinforces existing inequalities? Or are we really doing everything we can to make sure the benefits of this technology go to all and leave no one behind.

Changelly has a rather conservative price prediction for 2025, estimating an ROI of -32.1%. Let’s consider if that ROI is for the shareholders or for the community.

The narrative today is entirely focused on price projections and crypto as an investment vehicle. What of those developers in Africa, those community members who have spent countless hours crafting solutions that solve very real problems on the ground? Their perspectives are marginalized and their voices are frequently drowned out by the noise of the market.

I was speaking to a developer in Nairobi last week, and they raised a crucial point: "We need to focus on building dApps that are actually useful and affordable for our communities, not just chasing the next DeFi trend."

He's right. We can’t go to the next billion-dollar market from speculation in investment, but real investment in social impact.

Time To Prioritize People Not Price.

First, let me clarify – I definitely don’t think that a rising ETH price is a bad thing. Increased investment can drive innovation. We must be aware of the unintended outcomes. We need to make sure that everyone, not just the wealthy, can benefit from Ethereum. Now, let’s make sure we spread these benefits far and wide across the world.

Ethereum's upgrades and increased focus on developers are positive steps, but they're not enough. We need a fundamental shift in mindset. We must stop doing everything to make price the god of transportation and do something to make people the priority.

  • Support projects that prioritize social impact: Invest in and promote dApps that are actively addressing real-world problems in marginalized communities.
  • Advocate for lower gas fees: Explore solutions like layer-2 scaling solutions to make Ethereum more accessible.
  • Amplify the voices of developers in developing nations: Give them a platform to share their stories and perspectives.

The $5,000 dream is wonderful, but let’s work to ensure that it’s a dream that everyone can afford to dream. Let’s ensure Ethereum’s legacy is more than being an expensive store of value. So long as we work together, we can create a dynamic changemaking tool to achieve social and economic empowerment. If we don’t, we are condemning ourselves to a decentralized future that is fleeced of opportunity just like our centralized present. And what's the point of that?

The $5,000 dream is great, but let's make sure it's a dream that everyone can share. Let's ensure that Ethereum's true legacy is not just as a store of value, but as a powerful tool for social and economic empowerment. If not, we risk building a decentralized future that's just as unequal as the centralized present. And what's the point of that?