Ethereum Foundation Announces $9M in Q2 Project and Conference Funding

On Aug. 15, the Ethereum Foundation listed projects and community events that received funding in Q2.

Furthermore, the Foundation spent a total of $9.2 million supporting projects, conferences, and industry research.

The largest number of recipients were community and education projects which included more than ten summits and conferences.

Time to round up all the projects that received funding last quarter 🤠 Read all about ‘em in our Allocation Update: Q2 2023 blogpost! https://t.co/fjgkXXAiod

— EF Ecosystem Support Program (@EF_ESP) August 15, 2023

Ethereum Foundation Promoting Education

Conferences and hackathons across the world, including ETH Barcelona, ETH Belgrade, ETH Prague, Ethereum Singapore, and ETH Rome, were funded.

Consensus Layer research on data availability sampling, distributed systems, and staking infrastructure tools received grants. There was also continued development of Nimbus and Lighthouse Ethereum clients.

Cryptography and zero-knowledge proofs were a big category for funding. Toolings like Chiquito and Hypernova to build zk circuits more easily and privacy-preserving protocols like Lambdadelta, Isokratia, and zkEmail were included.

Furthermore, continued work on foundational protocols like halo2, Semaphore, and others was mentioned.

There was also funding for developer experience and tooling, such as Recovery Pulse for smart contract recovery.

Execution Layer projects such as Fluffy light client were supported, as were Nethermind internships.

Finally, there was funding for the Nimbus execution layer development and layer-2 Beacon Chain blockchain explorer.

The Ethereum Foundation ecosystem support program (ESP) continues to back the growing environment on crypto’s largest smart contract network despite the ongoing bear market.

ETH Price Outlook

In related news, it was recently reported that former U.S. President Donald Trump holds between $250,000 and $500,000 worth of ETH. The content of his crypto wallet is likely to be tied to the sale of his self-themed NFT collection.

Unfortunately for traders, there has been very little activity on Ethereum markets for the past few weeks.

ETH has dipped marginally on the day to trade at $1,826 at the time of writing. The asset is currently sitting at support levels in a sideways channel that it has been stuck in for almost two months.

Moreover, ETH has not been below $1,800 since a brief dip in mid-June when the SEC unleashed its barrage of lawsuits targeting crypto exchanges. There is further support at $1,740 should the markets dip further this week.

Analysts have highlighted a number of bullish fundamentals for Ethereum, but markets have yet to respond.