## Ethereum Community Foundation Launched, Targeting ETH Price of $10,000
The Ethereum Community Foundation (ECF) has officially launched with the ambitious mission of driving the price of Ethereum (ETH) to **$10,000**. This organization focuses on funding the development of the Ethereum ecosystem and strengthening the burning mechanism (burn) of ETH to reduce supply and increase asset value.
Led by Zak Cole, a core Ethereum developer, ECF stands as an initiative distinct from the Ethereum Foundation. ECF will fund projects that do not use new tokens, immutable smart contracts, and utilize ETH as the transaction fee that is burned according to the principle of “Burn Maximalism.”
With this strategy, ECF hopes to accelerate institutional adoption and the development of Ethereum infrastructure while creating a deflationary effect that significantly drives up the price of ETH. The organization emphasizes that it will not issue new tokens or involve venture capital but will instead focus on burning ETH and reinforcing the ecosystem.
The launch of the Ethereum Community Foundation is a breath of fresh air for the community and investors who are looking forward to concrete steps to enhance the value and use of Ethereum in the future. This initiative is expected to be a major driver towards a realistic and sustainable price target of $10,000.