Altcoin
Vitalik Emphasizes Exploring ETH Staking by Ethereum Foundation
Vitalik Buterin has emphasized that the Ethereum Foundation is exploring ETH staking options. This comes at a time when ETH prices are being traded within a narrow range, and tokens are being sold by the Foundation. Nevertheless, with hours away from Donald Trump’s inauguration ceremony, chances are that ETH prices will organically navigate their way for an uptick.
ETH Staking by Ethereum Foundation Under Consideration
Vitalik Buterin, co-founder of Ethereum, has emphasized through an X post that the Ethereum Foundation is reviewing ETH staking options. He has said that two factors were originally hampering plans of ETH staking, namely regulatory concerns and self-staking. If the Ethereum Foundation engages in ETH staking itself, it will have to take a position on the future contentious hard fork.
Concerns around regulations are not strong anymore as the Trump Administration is likely to form effective regulations and frameworks for the industry. This will pave the way for ETH staking if the Foundation finds a way to resolve concerns around self-staking. This is something that Vitalik believes can be minimized in several ways but has not written them in detail.
Vitalik published this post to respond to a user’s query who sought clarification about how easily could the Ethereum Foundation stake ETH and use DeFi to cover most of its internal budget.
ETH Selling by Ethereum Foundation
Meanwhile, a report by Lookonchain has highlighted that the Ethereum Foundation has sold an additional 100 ETH tokens. These are collectively worth approximately $336k and now account for the total selling of 4,666 Ether tokens at the price of $13.3 million since Jan 2, 2024.
The Ethereum Foundation previously sold 100 ETH at approximately $336k on Jan 8, taking its total selling to 4,566 ETH for a value of $12.96 million at that time. Another notable sale by the Foundation was reported on Dec 20, when the same number of tokens were sold, and ETH had dipped by almost 17%. The latest ETH sale is speculated to have happened because the TRUMP meme coin went on Solana instead of Ethereum.
Bullish Rally Ahead?
ETH price is up by 2.98% over the past 24 hours, listed at $3,304.41. There are reasons for ETH to skyrocket to $7,000. Ethereum MVRV pricing bands indicator by Glassnode, for one, hints that there could be repricing, which fuels the upward trajectory for ETH, the second largest crypto based on market cap. Also, Donald Trump’s inauguration ceremony is only hours away. This event will officially kickstart his crypto-friendly administration and pro-crypto candidates assuming their respective offices like Paul Atkins as the SEC Chair.
The launch of TRUMP and MELANIA meme coins has also strengthened the interest of investors in the crypto sphere. Both meme coins have gained significant value since their launch and continue to add to their market capitalization.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: