Ethereum cofounder calls for cultural shift to boost price, 6% spike seen
1min read Bankless cofounder David Hoffman has called for a strategic shift in Ethereum's approach to attract more users and builders to the network, aiming to improve the cryptocurrency's price performance. Hoffman's insights come at a time when Ethereum's price has shown lackluster figures since the beginning of 2025, extending into the second quarter of the year. This has prompted industry players to offer advice on how to revitalize the largest altcoin.
Hoffman's primary suggestion is a cultural and leadership change within the Ethereum network. He argues that the current culture of alienating users and builders is a significant factor in Ethereum's underwhelming performance. Specifically, he points to the public criticism of ETH staking platform Lido Finance and the hostility towards degenerate traders as examples of this alienating behavior. These actions, according to Hoffman, have contributed to the decline in Ethereum's price.
Hoffman believes that the network's attempt to police behavior on a permissionless chain is counterproductive. He advocates for the Ethereum Foundation (EF) and the broader community to adopt a more inclusive approach, attracting users and builders rather than pushing them away with a holier-than-thou culture. This shift, he argues, is essential for Ethereum to regain its momentum and improve its price performance.
Ask Aime: What is the cultural shift proposed by David Hoffman to improve Ethereum's performance?
Hoffman's comments come amid a fresh market resurgence for Ethereum, with the cryptocurrency experiencing a 6% spike in price over the last day. Despite this positive movement, Ethereum's price has declined to a five-year low against Bitcoin. However, there is rising momentum for prices to reclaim the $2,000 mark. Community members like Leo Glisic see potential upside for Ethereum, driven by its role as the infrastructure for the future global financial system. Glisic believes that Ethereum will serve as the settlement and interoperability layer, positioning it as a winner-take-all market.
On the other hand, critics like CryptoCurb and Peter Schiff compare Ethereum to Nokia’s downfall, suggesting that Solana could displace ETH to become the largest altcoin. These critics argue that the current rally is unsustainable and that an ETH decline below $1,000 is a possibility. Despite these differing views, Hoffman's call for a cultural shift within the Ethereum community highlights the need for a more inclusive and user-friendly approach to improve the cryptocurrency's price performance.
