Vitalik Buterin has highlighted that the Ethereum Foundation is investigating possibilities for Ethereum staking. This announcement comes as ETH prices remain stable within a limited price range, with tokens being offloaded by the Foundation. However, just hours before Donald Trump’s inauguration ceremony, there is potential for ETH prices to naturally rise.
ETH Staking by Ethereum Foundation Under Consideration
Vitalik Buterin, one of the co-founders of Ethereum, has made it clear through a post that the Ethereum Foundation is examining various possibilities for Ether (ETH) staking. He pointed out that there were two obstacles initially preventing ETH staking, namely regulatory issues and self-staking. If the Ethereum Foundation decides to participate in ETH staking, it would need to express an opinion on the potential future contentious hard fork.
Regulations surrounding the industry are no longer a major worry since it’s expected that the Trump Administration will establish robust regulations and guidelines, which could potentially facilitate ETH staking. However, if the Ethereum Foundation manages to address issues related to self-staking, this could be a significant step forward. Vitalik has suggested potential solutions to these concerns but hasn’t elaborated on them extensively yet.
Vitalik wrote this article to address a question from a user who was curious about the feasibility of the Ethereum Foundation staking ETH and leveraging DeFi to primarily fund its operational expenses.
ETH Selling by Ethereum Foundation
Recently, a report from Lookonchain indicates that the Ethereum Foundation has added 100 ETH to its sales, bringing the total to 4,666 Ether sold since January 2, 2024. The latest sale is valued at approximately $336k, contributing to the total revenue of $13.3 million from Ethereum token sales.
Previously, on January 8th, the Ethereum Foundation offloaded 100 ETH for around $336,000 each, bringing their total sales to 4,566 ETH at a value of approximately $12.96 million. A significant sale by the Foundation also took place on December 20th, where the same number of tokens were sold, but ETH had dropped by nearly 17%. The recent Ethereum sale is rumored to have occurred due to the TRUMP meme coin choosing Solana over Ethereum.
Bullish Rally Ahead?
Ethereum’s price has risen by 2.98% in the last 24 hours, currently standing at $3,304.41. Some experts believe that Ethereum could reach $7,000 due to several factors. One such factor is the Ethereum MVRV pricing bands indicator by Glassnode, which suggests potential repricing, contributing to its upward trend. Furthermore, in a few hours, Donald Trump’s inauguration ceremony will take place, marking the beginning of his administration that is known to be crypto-friendly. Additionally, pro-crypto candidates like Paul Atkins are expected to assume their roles, such as becoming the SEC Chair.
The debut of TRUMP and MELANIA meme cryptocurrencies has stirred up investor curiosity within the digital currency world as well. Since their initial release, these meme coins have experienced substantial growth in value and are consistently contributing to their overall market worth.
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2025-01-20 16:48