Market
Buterin Clarifies Ethereum Foundation’s Stance on Staking ETH
Ethereum co-founder Vitalik Buterin recently addressed why the Ethereum Foundation, the non-profit supporting the blockchain network, opts to sell its ETH holdings rather than stake them.
His comments follow increasing community criticism, calling on the Foundation to manage its resources more responsibly.
Why the Ethereum Foundation Doesn’t Stake Its ETH
In an October 27 post on X, Buterin outlined the rationale behind the Foundation’s decision to periodically sell ETH. He noted that staking could lead the Foundation to take an “official stance” on certain network upgrades, particularly during contentious hard forks — something it wants to avoid.
However, Buterin revealed that the Foundation is exploring other methods to engage with staking. These options include issuing grants in staked ETH, which would allow grant recipients to stake the ETH, control withdrawal timelines, and keep the rewards. Another potential approach is delegating staking responsibilities to multiple organizations to stake on the Foundation’s behalf.
“One interesting idea around this that is being considered is giving some grants in the form of ‘you can stake our ETH, you choose how as long as it’s ethical, and keep the upside,” Buterin stated.
Staking is essential to Ethereum’s proof-of-stake (PoS) mechanism, where users lock up ETH to validate transactions and earn rewards. Many in the crypto community argue that by staking its ETH, the Ethereum Foundation could fund its operations through these rewards, potentially reducing the need to sell off assets.
Read more: Ethereum (ETH) Price Prediction 2024/2025/2030
Recently, blockchain analytics platform ScopeScan reported that the Foundation had sold 4,066 ETH, valued at $11.24 million, on-chain via the decentralized exchange CoWSwap this year. ScopeScan also calculated that, with the current annual staking return of 3.1%, the Foundation’s 271,000 ETH holdings — worth approximately $673 million — could generate 8.4 million ETH (or about $20.8 million) per year if staked.
During this conversation, Buterin encouraged the crypto community to recognize the Ethereum Foundation’s broader contributions to the digital asset.
According to him, proceeds from ETH sales fund critical payments to the developers and researchers responsible for major network upgrades. These include Ethereum’s transition to Proof-of-Stake, consistent low transaction fees, and rapid processing speeds averaging around 30 seconds.
Read more: How to Invest in Ethereum ETFs?
Buterin also highlighted the Foundation’s support for innovations like zero-knowledge technologies for enhanced privacy and account abstraction for improved security. Additionally, the Foundation sponsors local Ethereum events worldwide, strengthening the community and network security.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Market Cap Rose, but Here’s Why It Could Fall Behind DOGE
Ripple’s (XRP) market cap rose but could soon lose its stop to Dogecoin (DOGE) if both cryptocurrencies continue to keep up with the recent performances. Over the last 24 hours, XRP’s price has increased by 5.20%, while DOGE jumped by 22%.
Should this trend persist, DOGE’s rapid growth rate could enable it to close the gap in market cap between the two cryptocurrencies. The outcome also hinges on whether XRP can sustain or accelerate its gains.
Ripple Low Activity Puts Its Position At Risk
XRP’s market cap rose to $30.63 billion and remains the seventh most valuable cryptocurrency. Dogecoin, on the other hand, is eighth in the standings, with a value of $30.26 billion. For context, the market cap is the product of price and circulating supply.
Therefore, since both DOGE and XRP have all their total supply in circulation, their respective prices determine the market cap growth. Therefore, if XRP’s price continues to lag behind DOGE’s fast-paced movement, it could drop behind the meme coin.
Notably, XRP’s price increase could be linked to the broader market recovery. But for DOGE, its growth hinges on rising market interest and Elon Musk’s consistent support for Donald Trump with the several posts of the Department Of Government Efficiency (D.O.G.E).
Read more: How to Buy XRP and Everything You Need to Know
With Donald Trump anticipated to be declared president, Dogecoin will likely continue its rally, leveraging the boost in sentiment driven by his known favorable stance toward cryptocurrencies. This potential surge in DOGE could put additional pressure on XRP, causing it to lag behind.
Another metric suggesting that XRP could fall behind DOGE is the Mean Dollar Invested Age (MDIA). The MDIA is the average age of all tokens on a blockchain weighted by the purchase price.
When the metric falls, most tokens are no longer dormant, and the price can increase. But in this case, the metric is rising, suggesting low trading activity and making it difficult for the price to increase.
XRP Price Analysis: Altcoin Overbought
A look at the 4-hour chart shows that the Bollinger Bands (BB) is expanding, indicating high volatility around the cryptocurrency. However, the upper band hand of the indicator has also touched XRP’s price at $0.54.
When the upper band of the BB hits the price, it means that the asset is overbought. Assuming the lower band did, then the assets would have been deemed oversold. Since it is the former, it means that XRP’s price might possibly retrace to $0.51.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
If this happens, then XRP’s market cap could fall behind DOGE if the latter’s price increases. On the other hand, a break above the $0.55 resistance could invalidate this forecast. In that scenario, the altcoin could jump toward $0.60.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?
Dogecoin started a fresh surge above the $0.180 resistance against the US Dollar. DOGE could continue to rise if it clears the $0.2200 resistance.
- DOGE price started a fresh rally like Bitcoin and climbed above the $0.180 resistance level.
- The price is trading above the $0.1800 level and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could continue to rally if it clears the $0.2150 and $0.2200 resistance levels.
Dogecoin Price Eyes More Gains
Dogecoin price started a fresh surge after it reclaimed the $0.1650 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.1800 and $0.1850 resistance levels.
There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair. The pair even surged above $0.2000. A high is formed at $0.2200 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high.
Dogecoin price is now trading above the $0.200 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2150 level. The next major resistance is near the $0.220 level.
A close above the $0.220 resistance might send the price toward the $0.2320 resistance. Any more gains might send the price toward the $0.2420 level. The next major stop for the bulls might be $0.250.
Are Dips Supported In DOGE?
If DOGE’s price fails to climb above the $0.2150 level, it could start another decline. Initial support on the downside is near the $0.2080 level. The next major support is near the $0.1920 level or the 50% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high.
The main support sits at $0.1780. If there is a downside break below the $0.1780 support, the price could decline further. In the stated case, the price might decline toward the $0.1650 level or even $0.1620 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.
Major Support Levels – $0.2080 and $0.1920.
Major Resistance Levels – $0.2150 and $0.2200.
Market
John Deaton Loses Senator Bid to Elizabeth Warren
US Senator Elizabeth Warren secured her third term in Massachusetts. She defeated Republican challenger John Deaton, a high-profile attorney and advocate for cryptocurrency.
The Associated Press announced the victory on Tuesday night at around 8 p.m. as Warren claimed 73% of the vote compared to Deaton’s 26%.
Deaton faced an uphill battle in his first political campaign despite his popularity within the crypto community as an outspoken XRP advocate and broader calls for friendly regulation. He emerged as a Republican Senate nominee by defeating rivals Robert Antonellis and Ian Cain in a three-way primary.
His campaign received significant support from prominent figures in the crypto industry, including billionaire Mark Cuban. Ripple CEO Brad Garlinghouse also endorsed Deaton, commending his commitment to advocating for the digital asset sector. This backing raised Deaton’s profile and highlighted the contrast between him and Warren, particularly in their differing views on cryptocurrency regulation.
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
Throughout his campaign, Deaton focused on his vision for a balanced regulatory approach to crypto. In an interview with BeInCrypto, he previously expressed his belief that “overregulation” would stifle innovation and harm American competitiveness.
This stance resonated with crypto advocates. Nevertheless, it struggled to capture a broad base of support among traditional voters in Massachusetts. Warren’s record as a seasoned legislator held strong appeal.
Meanwhile, Senator Warren, a powerful figure known for her prior stance against the crypto industry, softened her tone in recent weeks.
“I’m all for having a cryptosystem if people want to buy and sell crypto. All I want is for them to follow the same rules as everyone else,” Warren said.
Previously, she had called for strict measures to rein in crypto, often framing it as a risk to consumers and a tool for financial crime. Tyler Winklevoss, co-founder of the Gemini cryptocurrency exchange, has been a vocal critic of Warren’s approach to digital assets, often labeling her perspective as “outdated” and “overly restrictive.”
Warren’s victory likely ensures that regulatory scrutiny of digital assets will remain on the agenda in Washington. However, her recent shift from harsh critique to a more balanced tone could signal a new phase in the crypto-regulation debate.
Although Deaton lost by a large margin, his campaign showcased the increasing prominence of cryptocurrency issues in US politics. His platform resonated with crypto-friendly voters and industry advocates who view the sector as the future of finance.
Despite his defeat, Deaton struck a conciliatory tone in his concession speech. He extended an offer to collaborate on areas of mutual interest, suggesting potential bipartisan efforts even on contentious topics.
“I just called Senator Warren and congratulated her on her victory. If there was something that you think I could be helpful with, for example, women’s reproductive rights or issues we agree upon… I wouldn’t hesitate to offer my assistance,” Deaton said.
Read more: Everything You Need To Know About Ripple vs. SEC.
Moving forward, Deaton said he would continue advocating for clear and reasonable crypto policies. Specifically, he would remain involved in the Ripple versus SEC (Securities and Exchange Commission) case regarding XRP’s status.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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