Ethereum Foundation Allocates Funds for Projects and Events
The Ethereum Foundation has announced the projects and community events that received funding in the second quarter. With a total expenditure of $9.2 million, the Foundation supported various projects, conferences, and industry research. The majority of recipients were community and education projects, including more than ten summits and conferences.
Ethereum Foundation Promotes Education and Research
- Conferences and hackathons worldwide, such as ETH Barcelona, ETH Belgrade, and ETH Prague, were funded.
- Grants were given for Consensus Layer research on data availability sampling, distributed systems, and staking infrastructure tools.
- Work on Ethereum clients Nimbus and Lighthouse continued.
- Funding was provided for cryptography and zero-knowledge proofs, including toolings like Chiquito and Hypernova.
- Foundational protocols like halo2 and Semaphore received support.
- Developer experience and tooling, such as Recovery Pulse, were also funded.
- Execution Layer projects like Fluffy light client and Nethermind internships were supported.
- Nimbus execution layer development and layer-2 Beacon Chain blockchain explorer received funding.
Ethereum Foundation Supports Crypto Environment Despite Market Conditions
The Ethereum Foundation’s ecosystem support program (ESP) continues to back the growth of the crypto’s largest smart contract network, even during the ongoing bear market.
ETH Price Outlook
Former U.S. President Donald Trump holds between $250,000 and $500,000 worth of ETH, which may be tied to the sale of his self-themed NFT collection. However, Ethereum markets have seen little activity in recent weeks. ETH is currently trading at $1,826, slightly down from the day. The asset has been stuck in a sideways channel for almost two months, with support at $1,740. Despite bullish fundamentals, market response has been limited.
Hot Take
The Ethereum Foundation’s support and funding for various projects and events demonstrate its commitment to nurturing the growth of the Ethereum ecosystem. However, the lack of market activity on Ethereum reflects the overall stagnation in the crypto market. Despite positive developments, such as former President Trump’s involvement in ETH, market response remains subdued. It will be interesting to see how Ethereum’s price and market dynamics evolve in the coming months.
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