Aya Miyaguchi, ED of the Ethereum Foundation, draws attention to the firm’s 2024 report. The report reveals EF teams, EF grants, and ongoing efforts to improve the ecosystem. It also clarifies whether the Foundation will continue ETH sales. Amid these developments, analysts expect strong rallies for ETH.
Ethereum Foundation announced its 2024 report!
The non-profit organisation Ethereum Foundation (EF) has unveiled its 2024 report, boasting a treasury of $970 million. This has sparked a tidal wave of debate in the broader crypto market. Notably, the firm’s ED, Aya Miyaguchi, highlights ongoing efforts to enhance the ETH ecosystem. In this regard, she highlights the firm’s advancements. According to the report, teams such as Robust Incentives Group, Protocol Support and Devcon provide vital support to development.
The Ethereum Foundation’s financial report this year revealed that it had $970.2 million in cryptocurrency and non-crypto assets as of 31 October 2024. EF stated that it has $788.7 million in crypto assets, 99.45% of which are held in ETH, representing 0.26% of the total ETH supply as of the end of October 2024. According to the report, it holds $ 181.5 million in non-crypto investments and assets. In this context, the report said, ‘We prefer to keep the majority of our treasury in ETH. EF believes in the potential of Ethereum. In addition, our ETH assets represent this long-term perspective.’
Will the foundation sell more ETH?
EF also said that its treasury aims to ‘fund important public goods forthe Ethereum ecosystem.’ The foundation added its plan to pursue a conservative treasury management policy that ensures it ‘has sufficient resources even in the event of a multi-year market downturn.’ ‘This entails periodically selling ETH to ensure sufficient savings for future years and programmatically increasing our fiat currency savings in bull markets to fund spending in bear markets,’ the foundation said. This statement follows scrutiny and negative reactions from the community in response to several large, unexplained transactions and Ethereum sales made by the foundation without prior notice. Thus, leading to calls for greater transparency.
Bitfinex analysts expect $ 3,200 in the short term!
As you follow from Kriptokoin.com, Ethereum made a strong move. ETH price is already becoming more volatile due to increased spot market purchases after the elections. Bitfinex analysts draw attention to Ether’s increasing open interest. Analysts say this dynamic will set the stage for the next breakout in the short term. According to Bitfinex analysts, ETF inflows and increased investor appetite with the Republican victory opened the door for rallies. Therefore, it is possible that these developments will help the ETH price reach $3,200 in the short term.
Nansen: With Trump’s victory, Ethereum is cool again!
Meanwhile, according to Edward Wilson, an analyst at Nansen , a Trump administration will likely embrace more crypto industry innovations, including the launch of the first Ethereum ETF. The analyst says the following on the subject:
As the regulatory environment will likely be pro-crypto, we could even see the approval of a staked ETH ETF early in this new administration, which would take full advantage of the benefits of ETH as an asset. If this happens, ETH will become an exciting asset to watch. In other words, ETH is cool again.
According to analysts, more Ethereum ETFs could help ETH price break above $4,800, the all-time high recorded nearly three years ago on 16 November 2021.
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