Ethereum dev Zak Cole starts the Ethereum Community Foundation to boost ETH toward $10,000 by funding tokenless infrastructure and burning fees.
Coder Zac Cole, who works on Ethereum (ETH), has started a new group to help the cryptocurrency hit $10,000. The name of the group is the Ethereum Community Foundation (ECF).
The company’s primary goal is to make ETH an asset again. Cole says that the ETH Foundation has put too much emphasis on building up ecosystems.
How does the group plan to help Ethereum reach $10,000?
The ECF calls itself a group that focuses on prices. Its goal is to pay for building projects that reward people who own ETH. Burns will be the main thing it looks at to drive up prices.
The way this company does business is also clear. All discussions and choices about funding will be open to the public. The ECF aims to get more firms to use Ethereum (ETH). The company wants to help put stocks, bonds, real estate, and RWAs on the blockchain.
The group will also try to get the government to accept it. It wants to work with governments, regulators, and politicians in the US and other countries to make the crypto environment less strict.
A bright future?
It’s been hard for Ethereum (ETH) to gain traction over the past few years. The asset’s value didn’t change much after the SEC accepted ETH ETFs. Bitcoin (BTC), on the other hand, saw massive price increases after its ETF was approved.
Standard Chartered thinks the future for ETH will be promising. The world’s largest bank thinks ETH will reach $8,000 by 2026.
The bank doesn’t think the asset’s price will stay at $8000. Analysts at Standard Chartered think that the second-largest cryptocurrency by market cap will reach $35,000 in the long run.
In the past few months, the crypto market has stayed the same. The market looks like it’s being held together by institutional money. Retailers still don’t seem to be there.
Investor trust may have dropped a lot in the past few months. A good way for small investors to return has not yet been seen.
