- Vitalik Buterin transfers 100 ETH to an address belonging to 2077 Collective.
- The organization represents Ethereum’s unofficial marketing department.
- 2077 Collective expressed excitement over Buterin’s recent donation.
According to reports, Ethereum’s co-founder Vitalik Buterin has donated 100ETH to 2077 Collective, a community-driven organization dedicated to promoting Ethereum adoption. Data from Arkham Intelligence shows Buterin made a transfer in ETH worth roughly $300,000 to an address suspected to belong to the organization.
2077 Collective comprises creatives, researchers, developers, and marketers who claim to commit to “making Ethereum cool again.” The organization describes itself as Ethereum’s unofficial marketing department.
Sharing the news on its warpcast account, 2077 Collective expressed excitement over the recent donation, thanking the Ethereum co-founder for his support and promising to continue its role in shaping Ethereum’s future. The organization further reiterated its mission of improving Ethereum’s presence and appeal through innovative initiatives and community-driven efforts.
Meanwhile, many crypto community members consider organizations like 2077 Collective crucial in Ethereum’s growth and development. Reports show a significant drop in the flagship altcoin’s adoption level, from 65% at the end of 2021 to 54% as of 2023. Users linked the drop in adoption to the emergence of other competitive smart contract cryptos like Solana (SOL) and Binance Coin (BNB).
In addition to the advent of competitive smart contract solutions, Ethereum’s relatively high transaction fees in the past also contributed to users departing the platform for chains with more affordable fee structures. However, recent results show that fees paid to execute transactions on Ethereum have dropped to record lows.
Last week, Coinbase Director Conor Grogan highlighted that Ethereum is experiencing its lowest network fees since the project launched in 2016. According to Grogan, nine out of ten of the blockchain network’s lowest fee periods occurred last week, with the average network fee per hour on Ethereum dropping to 2.94 Gwei, the second-lowest in history.
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