These figures revealed by the Ethereum Foundation treasury showed that the organization has more than USD 1,000 million in ETH funds, which would get destined to support its work in the years to come.
A report recently revealed by the Ethereum Foundation details that the organization responsible for encouraging the adoption and use of the project’s Blockchain technology currently has 0.3% of the total supply of ETH in circulation.
The Report Published by the Ethereum Foundation
The report came from the Ethereum Foundation treasury, which details that as of March 31, the organization had about USD 1.3 billion in ETH and at least USD 300 million in investments outside the crypto environment, and other USD 11 million in other countries’ digital assets.
The Ethereum Foundation has published for the first time an annual financial report highlighting the current conditions of its reserves, but what it does regularly is boost funding and contributions to back up projects that carry out their activities on the Ethereum network.
Miyaguchi shared the report revealed by the Ethereum Foundation through its social media and invited those interested in knowing more about the organization to stay tuned for the Devconnect event, which will happen soon in Amsterdam.
The Available Funds
Taking the data revealed by the Ethereum Foundation in the report and validating with market information, 0.3% of the ETH currently circulating in the market would correspond to an estimate registered at more than 361,000 ETH at the current exchange rate.
Regarding the breakdown of the funds, the Ethereum Foundation explained that it made a total expenditure of USD 48 million in ETH funds, which got divided as follows:
For ZK’s applied research and development area, USD 3.6 million got allocated. And finally, apart from the previously mentioned figure, there was a total of USD 19.6 million destined for its ecosystem backup program.
The Merge is Creating Hype
For both developers and the community, the bulk of expectations got placed on The Merge, the next major update intended for the Ethereum network, with which the Proof-of-Stake (PoS) algorithm will officially begin to operate to optimize and improve block processing.
Although the arrival of this update got intended for the next June, the leading developer of Ethereum, Tim Beiko, confirmed that this will not be possible as such but that they continue to work to get to this in the shortest possible time.
By: Jenson Nuñez
