The Ethereum Foundation has unveiled its quarterly report detailing the allocation of project funding during the second quarter. On August 15, the report released outlines the recipients of financial support and delineates the initiatives that the foundation backed during Q2.

During this period, the Ethereum Foundation allocated a total of $9.2 million to support various projects, conferences, and industry research endeavors.

Significantly, a substantial portion of these funds found their direction towards community and education projects, encompassing over ten summits and conferences with the primary goal of fostering comprehension and raising awareness regarding Ethereum technology.

Diverse Range of Initiatives Supported

The Ethereum Foundation’s funding extended to a diverse array of domains within the Ethereum ecosystem:

  1. Consensus Layer Research
  2. Cryptography and Zero-Knowledge Proofs
  3. Foundational Protocols
  4. Developer Experience and Tooling
  5. Execution Layer Projects

Ethereum Price Outlook

In a related development, it was revealed that former U.S. President Donald Trump possesses an Ethereum wallet holding between $250,000 and $500,000 worth of ETH. This ETH wallet’s content is believed to be linked to the sale of a collection of NFTs bearing Trump’s image.

Despite the ongoing bearish sentiment, ETH markets have displayed minimal activity in recent weeks. Presently, ETH is trading marginally lower at $1,826. The asset has been consolidating in a sideways channel for nearly two months, finding support around its current levels. ETH has remained above $1,800 since a brief dip in mid-June, indicating a certain level of market resilience.

Market analysts have identified multiple bullish fundamentals for ETH; however, market response has yet to align with these favorable indicators.

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Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.