Market
Argot Sparks Outcry as Ethereum Foundation Ignores Vyper
The Ethereum Foundation launched the Argot Collective — a long-term, non-profit organization for Ethereum software development.
However, the initiative has sparked controversy, especially among proponents of the Vyper programming language.
Curve Finance Founder Michael Egorov Slams Ethereum Foundation
The Argot Collective shared the announcement, revealing a structure to support Ethereum-related projects for up to a decade, with the backing of long-term grants. Based on the blog, Argot’s mission is to foster a non-hierarchical, democratically governed environment that promotes software development for the Ethereum ecosystem free from commercial pressures.
Argot will focus on several projects, including Solidity, Fe, and other Ethereum tools. It will provide ongoing support for these languages to enhance Ethereum’s developer environment. The Argot Collective is designed to “eliminate rent extraction or exploitative profit-seeking.” It will also serve as a counterbalance to finance-driven entities within the Ethereum community.
Read more: A Deeper Look into the Ethereum Network.
Notably, Fe is a safety-focused Ethereum smart contract language that uses Vyper as a foundation. Vyper is also a contract-oriented programming language that targets the Ethereum Virtual Machine (EVM). The absence of funding for Vyper raises red flags for developers who rely on it.
The Foundation’s critics argue that Vyper’s lack of funding could undermine security and usability for projects that depend on it, making it more difficult to maintain and develop. Nevertheless, the Ethereum Foundation seems to overlook this.
“A group which was deciding to fund projects within Ethereum Foundation (now independent). With a focus on languages (c), they did not fund Vyper (used by Curve Finance, Lido Finance, and yearn Finance). However, they funded Fe (used by exactly no one). Coincidentally and unrelated, members of the group = team members of the funded projects,” Curve founder Michael Egorov remarked.
Egorov’s comments hint at a deeper skepticism, suggesting that personal or professional affiliations within the Foundation may have unduly influenced the decision. The idea is that Vyper’s integral role in decentralized finance (DeFi) warrants support similar to what Argot is now providing for other EVM-compatible languages.
“I find it a bit sad but also a bit cypherpunk that Vyper is always left out of these organizations/collectives. Kind of a ‘you don’t own me’ underdog positioning or incredibly talented people,” another X user commented.
Nevertheless, the launch of Argot reflects a broader organizational shift within the Ethereum Foundation. It has moved toward empowering independent bodies to steer various facets of its development.
Argot Collective Commits to Financial Transparency
In the statement, Argot explained that it is committed to “financial and organizational transparency,” intending to release detailed documentation on budgets, governance, and plans. Argot also promised that the organization would maintain financial autonomy through grants and staking income. This is as opposed to traditional financing models, rejecting equity sales, token offerings, or closed-source projects.
Some community members have also speculated that the preference for niche languages within Argot might reflect a quiet push toward technical decentralization. Reportedly, the Ethereum Foundation is looking to ensure diverse tool support across the EVM.
“This is something I’ve said for years, Solidity (and related projects) finally spinning out from the EF [Ethereum Foundation] into their own independently organized and financed foundation. This is incredibly bullish for Ethereum,” an X user said.
Yet, for Ethereum’s DeFi heavyweights, these assurances may fall short. The funding disparity appears to undercut projects essential to Ethereum’s financial ecosystem, with experimental languages seemingly taking priority over ones that are already integral to DeFi’s infrastructure.
The general sentiment in the replies to Egorov’s comment is that funding should follow impact. Critics see Vyper as vital to Ethereum’s security and usability. They argue that excluding it from funding signals a potentially harmful bias in the Foundation’s approach to resource allocation.
The fallout from this controversy has opened a broader debate around Ethereum’s funding priorities. The potential influence of personal affiliations on decision-making within the ecosystem is also a concern based on feedback.
Read more: How To Fund Innovation: A Guide to Web3 Grants
As the Argot Collective prepares for its official launch in early 2025, the Ethereum Foundation may find itself increasingly pressured to address these concerns. For now, the community awaits further clarifications, hoping that the Foundation’s actions will ultimately reflect the decentralized, democratic ethos it aims to embody.
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.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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