Ethereum’s ambitious journey to $10,000 begins with new community foundation launch

Zak Cole, a starring Ethereum halfway developer, has launched a caller inaugural to thrust the Ethereum network’s enlargement and boost its marketplace value.

In a speech astatine the Ethereum Community Conference connected July 2, Cole introduced the Ethereum Community Foundation (ECF), an autarkic entity dedicated to supporting Ethereum arsenic an plus and pushing its terms to $10,000.

What is the Ethereum Community Foundation?

Cole emphasized that the ECF’s ngo is to money projects aimed astatine strengthening the Ethereum ecosystem.

The ECF website stated that the task distinguishes itself from the Ethereum Foundation (EF) by focusing connected initiatives the EF has been incapable oregon unwilling to pursue.

According to ECF’s website:

“ETH terms has been overlooked for excessively long. The ECF is present to alteration that. We are ngo focused connected increasing its worth done education, funding, outreach, and ecosystem support.”

To execute its $10,000 ETH goal, Cole explained that the ECF would instrumentality a much nonstop attack successful supporting ETH holders and fostering the ecosystem’s growth.

This includes backing projects that purpose to heighten Ethereum’s infrastructure, collaborate with governments and institutions, and prioritize actions that maximize ETH worth and minimize the issuance of caller tokens.

He besides pointed retired the value of ETH’s value, stating that the terms is astir much than specified speculation and really plays a captious relation successful supporting validators, securing the network, and enabling ETH to grip planetary transactions.

According to him:

“ETH to 10K isn’t a meme. It’s a requirement, a benchmark, a mandate. A $1.2 trillion marketplace headdress makes ETH competitory with gold’s monetary role. Price isn’t conscionable speculation. It funds validators. It secures the network. It earns ETH the close to settee planetary value.”

Meanwhile, the instauration of the ECF follows criticisms of the Ethereum Foundation, peculiarly its determination to sell ETH earlier this year, which immoderate judge contributed to a dip successful the asset’s price.

In response, the EF has introduced a caller enactment team and is present utilizing a much community-aligned approach, including lending ETH for stablecoin liquidity done platforms similar Aave to debar further sales.

The station Ethereum’s ambitious travel to $10,000 begins with caller assemblage instauration launch appeared archetypal connected CryptoSlate.