Aya Miyaguchi, Executive Director of the Ethereum Foundation (EF), highlights the organization’s 2024 report, shedding light on its ongoing efforts to strengthen the Ethereum ecosystem. The report also addresses the Foundation’s stance on ETH sales, providing insights into future financial strategies. Amid these revelations, analysts foresee strong rallies for ETH.
Ethereum Foundation’s 2024 Report Unveiled
The non-profit Ethereum Foundation disclosed its 2024 report, revealing a treasury valued at $970 million. This announcement has sparked intense discussions across the crypto community. According to Miyaguchi, the Foundation continues to drive ecosystem development, supported by critical teams like the Robust Incentives Group, Protocol Support, and Devcon.
As of October 31, 2024, EF holds $970.2 million in crypto and non-crypto assets, with 99.45% of its crypto holdings in ETH—equivalent to 0.26% of the total ETH supply. The report states that $788.7 million of EF’s treasury is held in Ethereum, with an additional $181.5 million in non-crypto investments. “We prefer to hold most of our treasury in ETH, reflecting our belief in Ethereum’s potential,” the Foundation noted.
Will the Foundation Sell More ETH?
The Ethereum Foundation clarified that its treasury aims to fund “public goods essential to the Ethereum ecosystem.” The report details a conservative treasury policy, designed to provide resilience even during prolonged market downturns. According to the Foundation, this includes periodic ETH sales to build fiat reserves during bull markets and fund expenditures in bear markets. This stance comes in response to previous instances of unexplained ETH sales, which prompted calls for greater transparency.
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Short-Term ETH Target: $3,200
With rising interest from spot market investors post-election, Bitfinex analysts predict ETH could soon reach $3,200. Noting Ethereum’s increased open interest, analysts believe that a favorable climate, coupled with renewed investor enthusiasm, could propel ETH toward new highs. According to Bitfinex, the boost in investor appetite from Trump’s win and potential ETF inflows create the conditions for a rally.
Nansen Insights: Trump’s Win Could Revitalize Ethereum
Nansen analyst Edward Wilson suggests that a Trump administration might foster a crypto-friendly regulatory landscape, possibly leading to the approval of the first staked ETH ETF. “This could make ETH an even more exciting asset to watch,” Wilson explained. Analysts agree that more Ethereum ETFs could help ETH surpass its all-time high of $4,800, set on November 16, 2021.
As The Bit Journal reports, these factors indicate that ETH may be on the cusp of a major breakout, with both short-term and long-term potential for gains.
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