• Ether price remained largely unchanged over the past 24 hours even after the Foundation revealed 80% of its treasury is held in ETH. 
  • Vitalik Buterin revealed the Ethereum Improvement Proposals that he personally promotes don’t even make it with his diminishing influence. 
  • Analysts reveal a bullish outlook for Ethereum, and believe ETH is closer to its bottom than it is to the top. 

Ethereum creator Vitalik Buterin believes his influence on the ETH has diminished over the past few years. In a recent interview, Buterin revealed that he needs to alleviate people’s concerns to get his proposals accepted. 

Vitalik Buterin is no longer influential  

Ethereum price remained unchanged over the past 24 hours. Vitalik Buterin, the creator of Ethereum, told American tech entrepreneur and investor Naval Ravikant that his influence on Ethereum is not the same as it was six months ago. 

Buterin revealed that he felt his influence on Ethereum “keeps decreasing,” and the Ethereum Improvement Proposals that he promotes take more effort to get approval from the community. It is a challenge and requires Buterin to alleviate people’s concerns about updates to the ETH network. 

Ethereum’s creator told Ravikant,

I feel like my influence in Ethereum keeps decreasing every six months. I have less now than I did six months ago. Six months ago, I had less than I had a year ago. And a year ago, I had less than I had 18 months ago.

Buterin added that people in the Ethereum community need convincing to push ideas forward in a particular direction. 

Proponents believe the diminishing influence of Vitalik Buterin on ETH could negatively influence investor sentiment. Further, the Ethereum Foundation recently revealed that 80% of its treasury is held in ETH. Experts have questioned the lack of stablecoin and fiat support in treasury, and there are fears of a potential price drop in the short term. 

Still, Ethereum’s short-term HODLer percentage (supply less than three months old) hit a new low, and historically, when the indicator is closer to the bottom, it is considered a bearish sign. Ethereum price is, therefore, closer to bottoms than tops by HODLer behavior. 

Crypto analysts at @IncomeSharks have an opposing view. Analysts have identified a double bullish super trend, and Ethereum could have the strength to move up quicker than people are expecting. 

FXStreet analysts believe the Ethereum price is on track to explode and hit the $3,700 target. Analysts have identified a triple tap setup in Ethereum and set an upside target at $3,700, and the downside is capped at $2,800. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Why LUNA traders do not have to be in the market all the time

Why LUNA traders do not have to be in the market all the time

Terra (LUNA) price action has slipped below a critical level outlined a few days ago. As price action moves start to get smaller, a big move is set to happen, but it is very cloudy to see where that move will be going.

More Terra News

SEC vs. Ripple case, two key decisions awaited by XRP holders

SEC vs. Ripple case, two key decisions awaited by XRP holders

XRP holders are awaiting key decisions in the SEC vs. Ripple case. Experts believe judge Sarah Netburn could rule on the two key decisions in the lawsuit against payment giant Ripple. 

More Ripple News

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC’s purchase of carbon credits through KlimaDAO partnership represented 104,794 tonnes of greenhouse gasses, equivalent to the Ethereum scaling solution’s debt since 2019. Carbon neutrality has fueled a bullish sentiment among traders and 

More Polygon News

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Shiba Inu price may have bottomed but this can only be confirmed if the current rally persists. Traders should be aware of several factors. Shiba Inu price has suddenly changed as the bulls have printed a significantly large bullish engulfing candle on the daily chart. 

More Shiba Inu news

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis