- Vitalik Buterin disclosed that 36.5% of the Ethereum Foundation’s 2023 budget was allocated to new foundations.
- Buterin’s annual salary is set at SGD 182,000, approximately $134,000, providing transparency on Ethereum’s financial operations.
- Ethereum’s market shows mixed signals with a 4.94% price drop and a 62.47% rise in options trading volume.
Ethereum (ETH) co-founder Vitalik Buterin shared new information about the Ethereum Foundation’s 2023 expenses and his own salary. Buterin, known for influencing the market with his posts, provided a detailed breakdown of the Foundation’s spending.
In a post on his X account, Buterin outlined the primary spending categories. The largest portion; 36.5%, was allocated to “New Foundations,” including organizations such as the Nomic Foundation, The DRC, L2Beat, and 0xPARC. Besides this, investments were directed towards tier-1 research and development, accounting for 24.9% of the budget, and community development, which received 12.7%.
Buterin also disclosed his annual salary, set at SGD 182,000, equivalent to approximately $134,000. This disclosure offers a glimpse into the financial operations of the Ethereum Foundation.
The crypto market reacted to Buterin’s post, and Ethereum is currently trading at $2,589.24, with a 24-hour trading volume of $14.09 billion. The price dropped by 4.94% in the past 24 hours, bringing Ethereum’s market cap to $311.48 billion. Ethereum’s circulating supply stands at 120.30 million ETH coins.
Ethereum derivatives trading data also showed a surge in activity. Trading volume increased by 51.23% to $25.22 billion, although open interest saw a slight decrease. Options trading experienced a substantial 62.47% rise in volume. Additionally, the long/short ratios reflect a generally bullish sentiment, especially on Binance and OKX, where long positions dominate.
However, the overall 24-hour long/short ratio stands at 0.9183, indicating a slight preference for short positions across the market. Binance’s top traders display a strong long bias, suggesting confidence in Ethereum’s potential despite recent price declines.
Additionally, Ethereum’s current market status presents mixed signals. ETH trades at $2,588.92, down 2.16% in the last 24 hours, with a market cap of $326.69 billion. Only 20% of holders are currently profiting, while 63% are at a loss. Large holders control 89% of the supply, signifying high centralization. Moreover, ETH shows a strong correlation (0.84) with Bitcoin’s price movements.
Despite short-term bearish trends, the data indicates ongoing interest and potential for Ethereum in the broader market. The negative exchange net flow of $238.62K over the past week may hint at accumulation. Therefore, these metrics would suggest Ethereum remains a key player in the crypto market, with its future outlook closely tied to broader market conditions.
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