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Ethereum co-founder Vitalik Buterin has stated that the Ethereum Foundation will be selling less ETH from its kitty going forward.
The Foundation’s offloading of its stake has led to concerns among investors over the past few months. Buterin stated that the Ethereum Foundation will focus more on long-term sustainability.
Vitalik Buterin Shares View on Future of Ethereum Foundation
In a detailed message on X on Sunday, Buterin shared his perspective on the future direction of Ethereum Foundation. He stated that the Foundation is moving towards a smaller, more focused, and longer lasting structure.
Moreover, he said that the greater focus will be on decentralization, privacy, censorship resistance, and security. The good thing that excited investors was that the Foundation will sell fewer ETH going ahead.
Over the past year, the Foundation has offloaded over 20,000 ETH from its kitty. It’s to cover the $100 million in annual expenses. Most of the ETH was sold to Tom Lee’s BitMine Immersion (NASDAQ: BMNR) technologies in block deals. At the same time, they have also staked over 70,000 ETH.
As per Vitalik Buterin, the organization will now focus on initiatives. These are critical to Ethereum’s role as an open and censorship-resistant network. On the other hand, other ecosystem partners will drive broader innovation and capital formation.
Vitalik Buterin Shares Key Focus Areas for Ethereum
As per Buterin, Ethereum will prioritize becoming “deeply impressive” in areas such as formal verification and strong consensus systems. It will also facilitate privacy-focused infrastructure that will focus on competing on transaction speed and scalability.
Buterin further noted that nearly 90% of his personal net worth remains allocated to Ethereum. He again stresses that the Foundation holds a small portion and sells only to cover the costs of annual expenditure.
Following the development, ETH price has bounced back from the intraday lows of $2,060. Analysts are hopeful that ETH is making a base formation as of now and is currently in the accumulation zone.
ETH Price Journey to $10K Begins Soon?
Popular analyst Crypto Patel shared a bullish long-term outlook for Ethereum. He believes that the ETH price chart formation offers a clean trading opportunity in the current market cycle.
According to the analyst, the key Ethereum accumulation zone lies between $2,000 and $1,400. On the upside, the $4,700 level remains the major resistance area. That could act as a breakout trigger for a broader rally.
Crypto Patel outlined upside targets of $10,000 and $15,000. It can even reach potentially $20,000 if Ethereum successfully breaks above the resistance zone.
Analyst Patel said that in the past, the ETH price rally started from similar consolidation and demand regions. He stated that institutional and long-term investors often accumulate during periods of low market attention. They don’t chase the upward trend.
Another market analyst, VentureBeat, shared a similar opinion. He noted that the current ETH price range shows an undervalued accumulation zone for long-term investors.
According to the analysis, Ethereum trading below its 200-week moving average has historically marked strong buying opportunities.
The analyst stated that the ETH price may successfully reclaim and hold the $2,500 level as support. If this happens, the asset could enter a new bullish phase. The report also suggested that downside risk for ETH may remain limited near the April 2025 lows.
