Tanya Abrosimova
Independent Analyst
- Ethereum Foundation has published its regular annual update with the highlights of the future developments.
- ETH/USD retains 2% gains despite a retracement from the recent high.
Recently the Ethereum Foundation has released its Spring 2019 update, that reveals the roadmap of the project for the year ahead.
According to the publication, the Foundation aims to allocate $30 million for the cryptocurrency development to keep up with the “tremendous progress” made by Etehereum over the past year and focus on its strongest values.
The Ethereum Foundation controls 0.6% of all EETH coins, according to the report. However, the group says that their reserves are set to shrink over time, which means that they should use it wisely.
Speaking of the decentralization issues, the Foundation positions itself as a voice of authority, which can be beneficial to the community.
“We understand that many look to the Foundation as a valued voice even as we move to proactively empower others. That voice is a resource that can be used effectively to advance Ethereum. We are able to, for instance, bring attention to important but relatively unknown projects, share valuable information about Ethereum’s progress with the public, and encourage the growth of regional Ethereum communities.”
Ethereum's price update
Ethereum touched $264.00 during late Tuesday hours, but failed to keep the ground and retreated below $260.00 handle. At the time of writing, ETH/USD is changing hands at $256.66, 2% higher from this time on Tuesday. The second largest coin, with the current market capitalization of $27 billion, is one of the best performing coins on a week-on-week basis.
ETH/USD, 1-hour chart
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