Cathie Wood, founder of Ark Invest, known for his support of Bitcoin (BTC), has expressed her support for the largest Altcoin Ethereum (ETH).
Although Kathy Wood couldn’t get all the technical details, she noted that the Ethereum Foundation is heading in the right direction with recent efforts to increase scalability and privacy.
Wood’s statement comes as the cryptocurrency market is experiencing a significant growth and an increase in institutional adoption.
Ethereum support from Cathie Wodd!
Wood highlighted the Ethereum Foundation’s efforts to improve scalability and privacy. This is what we consider to be essential for Ethereum to maintain control in the corporate sector.
Founder Kathy Wood shared the following on her X account:
“I think the Ethereum Foundation proposes the right steps from a scalability and privacy perspective to stay ahead of the corporate world.”
The statement announced that after the Ethereum Foundation announced on July 10th it will officially introduce plans to fully integrate Zero-Knowledge (ZK) technology into Ethereum’s L1.
Ethereum Foundation’s focus area!
One of the key areas of the Ethereum Foundation is scalability. This refers to the network’s ability to handle more and more transactions without sacrificing speed or security.
The Ethereum Foundation is actively working to improve scalability. It aims to meet the growing demand from institutional investors who need a reliable and efficient platform for ETH trading.
In addition to Scalability, Ethereum Foundation also prioritizes privacy. Privacy is a major concern for institutional investors. By improving ETH’s privacy capabilities, we aim to create a safe environment for institutional transactions, thereby building trust among users.
Ethereum continues to trade at $3,020, up 2.3% over the past 24 hours.
*This is not investment advice.
