Ethereum (ETH) core developer Zac Cole has launched a new organization to help the asset reach the $10,000 mark. The organization is called the Ethereum Community Foundation (ECF). The firm will focus on bringing back ETH as an asset. According to Cole, the ETH Foundation has focused a little too much on ecosystem development.

How Will The Organization Help Ethereum Hit $10,000?

The ECF labels itself as a price-focused organization. It aims to fund infrastructure projects that bring value to ETH shareholders. It will focus on burns as a means to drive prices.

This firm has also taken a transparent approach. All funding decisions and discussions will be made public. The ECF also aims to bring more institutional adoption of Ethereum (ETH). The firm aims to fund efforts to bring stocks, bonds, real estate, and RWAs on chain.

The organization will also work towards government adoption. It plans to engage with the US and foreign governments, regulators, and policymakers for a more lenient crypto environment.

Bullish Future?

Ethereum (ETH) has struggled to generate steam over the last few years. The asset did not see much movement even after the SEC approved ETH ETFs. Bitcoin (BTC), on the other hand, saw incredible price rallies after its ETF approvals.

Standard Chartered has presented quite a bullish future for ETH. The global financial institution anticipates ETH to rise to $8000 by 2026. The bank does not expect the asset’s price to stop at just $8000. Standard Chartered analysts expect the second-largest crypto by market cap to hit $35,000 in the long term.

Also Read: Early Ethereum Investor Turned $5459 Into $55 Million

The crypto market has stagnated over the last few months. Institutional money seems to be keeping the market afloat. Retail players still appear to be absent. Investor confidence may have taken a serious toll over the last few months. A proper reentry for retail investors is yet to be seen.