Big Week for Ethereum Ahead? Layer 2 Project Mantle Network Announces $200M Fund at EthCC

The Ethereum Community Conference (EthCC) is underway in Paris, and the general feeling is that this may be a really big week for Ethereum. Being the largest annual European Ethereum event, this flagship conference has over 250 speakers coming from all over the world. Could it also affect the Ethereum price?

Scheduled for 17th to 20th July, the 2023 EthCC week will feature multiple events. There will be meetups, panels, parties, as well as other attractive side events as the Ethereum community engage to chart a prosperous course for the network championing the decentralized movement.

A very important week for Ethereum

The need for industry insiders to come together from time to time cannot be overemphasized. A blockchain network like Ethereum, hosting thousands of projects will benefit immensely from community conferences. EthCC 2023 is a critical educational gathering with welcoming celebrations.

While inclusive conversations are expected to be the hallmark of this conference, social interactions will play huge roles too. The conference will also provide ample opportunity for individuals and businesses to showcase their projects and make relevant announcements.

A major international conference like EthCC also has the potential to influence the prices of digital assets. A positive outcome of the EthCC week in Paris, therefore, could provide a positive influence in the ETH markets.

A pair of interesting announcements

Barely 24 hours into the EthCC week, we’re expecting a number of announcements that reiterate the importance of the event. Here are a couple of announcements that will reiterate the importance of the event:

Mantle Network unveils Mainnet Alpha and $200 million ecosystem fund

Ethereum Layer 2 project, Mantle Network, is one of the first projects to make a big announcement in the ongoing EthCC in Paris. The network announced its mainnet alpha yesterday, in addition to a $200 million ecosystem fund. This is coming barely after 6 months of testnet development.

Mantle Network used the opportunity provided by EthCC to intimate current and potential partners of its current position and targets. Thanks to a strategic merger with BitDAO in May, the project is now backed by one of the largest treasuries in the crypto sector.

ConsenSys launches Linea Network

Another announcement that will make waves in the EthCC will be the launch of the mainnet alpha of the Linea Network by Consensys. The Ethereum development company, which is behind such popular projects as MetaMask and Infura, has decided to join Ethereum scaling race in a remarkable way.

Sometime last week, Consensys onboarded ecosystem partners. The company will now leverage EthCC to open Linea Network, a zkEVM rollup to the public. Linea, according to a company statement, is an EVM equivalent. The implication is that Ethereum-native protocols can deploy on the Linea Network without much fuse.

Wrapping up

This is certainly a big week for Ethereum, and in extension, a big week for the decentralized movement. As participants from all over the world engage positively in Paris, relevant announcements that could shape the future of Ethereum will be made. In addition to the announcements, we expect that the event will yield the results necessary for building a sustaining a positive, fertile ecosystem.