Ethereum Community Foundation Launches with Institutional Focus, ETH at $2,435

- Foundation aims to boost institutional adoption and ecosystem growth. - Emphasizes ETH burn requirement and transparent funding process. According to The Block on July 2, the Ethereum Community Foundation (ECF) has officially launched, aiming to support the global Ethereum ecosystem. Zak Cole, the foundation's founder, told The Block that the ECF has already raised millions of dollars worth of ETH, which will be used to fund key projects within the ecosystem. The foundation’s mission focuses on driving Ethereum’s price growth and accelerating institutional adoption. ECF will prioritize support for real-world asset (RWA) applications and requires all funded projects to contribute to ETH burn while prohibiting the issuance of their own tokens. Transparency is a core principle of the foundation. All funding discussions and decisions will be made publicly, laying the groundwork for a sustainable and trustworthy governance model within the Ethereum ecosystem. By taking this open approach, ECF seeks to strengthen community trust and broaden Ethereum’s global reach. Following the announcement, ETH traded at $2,435.88 with a market dominance of 8.985%. The 24-hour trading volume showed a slight decline of -0.98%, suggesting that the launch may have sparked renewed market interest. The ECF is being hailed as one of the most notable developments in Ethereum’s ecosystem this year. Zak Cole stated that the foundation will play a role beyond simply allocating funds, pledging to enhance Ethereum’s long-term value and act as a launchpad for future growth. Observers are closely watching how the foundation’s actions might impact ETH price and broader adoption moving forward.