The Ethereum Foundation announced plans to invest significantly in zkVMs, potentially impacting the Ethereum market. Meanwhile, Ethereum co-founder Jeffrey Wilcke's large ETH transfer has raised concerns among market participants.
Ethereum Foundation's Investment in zkVMs
According to Ethereum Foundation researcher Justin Drake, the organization is preparing to invest millions into zkVMs (Zero Knowledge Virtual Machines). Key beneficiaries will include the formal verification platform zkevm.org, as well as Poseidon cryptanalysis and ethproofs.org projects.
Ethereum Co-Founder’s ETH Transfers
Recent reports indicate that Ethereum co-founder Jeffrey Wilcke moved over 20,000 ETH to the Kraken exchange. In 2024, Wilcke has reportedly sold at least 44,300 ETH at an average price of $3,342.
ETH Price Trends: $4K in Sight?
Since November, Ethereum market has seen a rise of 49.59%. Between November 5 and 11, it increased by 40.55%, followed by a correction of 9.31%. On November 27, the price peaked at $3,654.03, however, it has slipped by 0.7% in the last 24 hours. Experts suggest the market might reach $4,000 during this cycle.
Ethereum’s zkVM investments signal strong ecosystem growth, but co-founder Wilcke's ETH trades add a note of caution to the market.
