Cathie Wood, founder of ARK Invest, known for her support of Bitcoin, has expressed her support for the largest altcoin, Ethereum. She highlighted the significance of the Ethereum Foundation's efforts in enhancing scalability and privacy.
Support from Cathie Wood
While Cathie Wood couldn't grasp all the technical details, she noted that the Ethereum Foundation is moving in the right direction with its recent efforts to increase scalability and privacy. She emphasized that these aspects are vital for Ethereum to maintain its dominance in the enterprise sector.
"I think the Ethereum Foundation is proposing the right steps in terms of scalability and privacy to stay ahead in the corporate world." CITE_W_A
Focus Areas of the Ethereum Foundation
One of the Ethereum Foundation's key areas of focus is scalability, which refers to the network's ability to handle an increasing number of transactions without sacrificing speed or security. The Foundation is actively working to enhance scalability to meet the growing demand from institutional investors seeking a reliable and efficient platform for ETH transactions.
In addition to scalability, the Ethereum Foundation prioritizes privacy as a significant concern for institutional investors. By improving ETH's privacy features, it aims to create a secure environment for institutional transactions, thus building trust among its users.
Current Market Situation of Ethereum
Ethereum is currently trading at $3,020, up 2.3% in the last 24 hours. This increase in price coincides with the growth of the cryptocurrency market and increasing institutional adoption.
Cathie Wood's statements underscore the importance of the Ethereum Foundation's actions in light of the growing interest from institutional investors, which could significantly impact Ethereum's future in the crypto market.
