Ethereum News: Potential Migration to Poseidon Hash Function and Expert Price Prediction

Ethereum, the second-largest cryptocurrency by market capitalization, is making headlines again with potential updates and expert price predictions.

Ethereum Explores Migration to Poseidon Hash Function

Ethereum is considering migrating to the Poseidon hash function to enhance its zk-proof capabilities. Vitalik Buterin, a co-founder of Ethereum, has encouraged researchers to join the Poseidon cryptographic analysis program to provide more information about Poseidon’s security. The deadline to apply for the funding program has been extended to March 15.

Experts Eye $12,000 for ETH; Lightchain AI Soars by 300%

As Ethereum (ETH) shows promising signs, experts are forecasting a potential rise to $12,000. Meanwhile, Lightchain AI, which combines artificial intelligence with blockchain technology, has already raised over $16.7 million and is currently priced at $0.006 in its presale. Some predict a 300% surge in its value, positioning it for explosive growth and making it a strong contender that could potentially outpace Ethereum.

SEC Reviews Grayscale’s Ethereum ETF Staking Proposal

The U.S. Securities and Exchange Commission (SEC) is reviewing a proposal by NYSE Arca to allow staking within Grayscale’s Ethereum Exchange-Traded Funds (ETFs). The proposal, filed on February 14, 2025, seeks regulatory approval to enable Grayscale’s Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF to stake Ethereum tokens. Grayscale’s proposal would enable both ETFs to stake Ethereum through trusted providers, earning staking rewards. A bold decision by the SEC is expected by May 2025. Ethereum ETFs could offer staking rewards, boosting investor returns. Grayscale’s staking proposal follows growing interest in crypto ETFs.

Ethereum Foundation Donates $1.25 Million to Support Alexey Pertsev`s Legal Defense

The Ethereum Foundation has announced a donation of $1.25 million to support the legal defense of Alexey Pertsev, a developer of Tornado Cash. Pertsev, who was on pretrial detention since August 2022, was released on Feb. 7 and is currently under house arrest while preparing his legal appeal. His pretrial detention was suspended by a Dutch court on Feb. 6, following an earlier decision in Nov. 2024 to extend his detention. The Ethereum Foundation tweeted that privacy is normal, and writing code is not a crime, along with a LINK to contribute to Pertsev`s defense.