Is Ethereum in Trouble or Not? Major Changes at the Ethereum Foundation Are Bullish For ETH.
The Ethereum Foundation is positioning itself for long-term success, and that's a good thing.
Overview
Ethereum (CRYPTO: ETH) is under pressure from all sides, and not just because crypto prices are falling and sentiment for the whole asset class is faltering. Institutional investors and high-profile supporters are selling their Ethereum holdings, and the Ethereum Foundation is making dramatic changes. At the time of writing (July 1), Ethereum was trading around $1,570 -- close to its lowest point in almost three years.
The Ethereum Foundation is a non-profit that supports the Ethereum ecosystem, led by co-founder and crypto celebrity Vitalik Buterin. It announced last week that it would cut its budget by 40% and reduce staff numbers by 20% as part of a broader strategic reset. For Ethereum holders, or investors considering buying the dip, the question is whether the organization's shift reflects a failing ecosystem or a strategic move to support long-term growth. I lean toward the latter, though there are some areas to watch.
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Originally published at www.fool.com.