The Ethereum Price Crisis: David Hoffman Calls for Radical Community Overhaul

The news of Ethereum prices struggling has continued to dominate the news headlines in Q2, 2025. The cryptocurrency dipped to a low of $1,415 recently, before staging a slow recovery. Amid the growing concerns, David Hoffman, co-founder of Bankless, has proposed a bold vision to reverse Ethereum’s fortunes. He has linked the recent struggles to the Ethereum community culture, amid Ethereum’s Layer 1 problems. 

Hoffman Fires Shots at Ethereum Community and Leadership

Hoffman, in his post on X, claimed that Ethereum’s fundamental issue is its leadership and community culture. “Ethereum leadership and culture have alienated users and builders by being hostile to its own app layer,” Hoffman stated. He criticized the shaming of ETH staking platform Lido Finance and the community labeling certain traders as ‘degenerate’. He stated that these actions alienate users and investors on a supposed permission-free blockchain. 

Everyone is midcurving why ETH’s price performance has sucked

Ethereum leadership and culture have alienated users and builders by being hostile to its own app layer.

We publicly exorcised @LidoFinance. We’ve shunned traders and degens.

On a permissionless chain, we’ve tried…

— David Hoffman (@TrustlessState) April 12, 2025

“If we want ETH to grow, the EF and broader community need to start attracting users and builders, not pushing them away with a holier-than-thou culture,” Hoffman added. He also proposed that the leadership’s focus should be more on the Ethereum’s Layer 1. 

Culture and code are intertwined

There's a lot that the Ethereum L1 can do to be more inclusive and aligned with its users

Next week, I record an episode with @dankrad and @MikeIppolito_ to discuss what technical changes Ethereum should focus on to pull it out of its hole https://t.co/KZ5s8vhRzg

— David Hoffman (@TrustlessState) April 12, 2025

Ethereum Price Flashes Signs of Recovery Amid Mixed Sentiments

Despite the wave of criticism, Ethereum has shown some promise with a 6% price jump within 24 hours. Optimists like Leo Glisic remain confident in Ethereum’s long-term potential as the “settlement and interoperability layer” for the future global financial system. However, analysts like CryptoCurb have drawn parallels between Ethereum’s struggles and Nokia’s collapse, suggesting that Solana could soon steer past Ethereum in the Solana vs Ethereum debate. 

Ethereum has a very simple investment narrative, but we've managed to overthink it

1) The play is infrastructure for the future global financial system

2) Ethereum will serve as the settlement and interoperability layer, which is a winner-take-all market

3) The strategy is to…

— leoglisic.eth (@Leo_Glisic) April 11, 2025

With the altcoin facing growing pressure from both its community and external market dynamics, Hoffman’s call for cultural reform may be crucial for Ethereum’s future. While Ethereum’s immediate future remains uncertain, the debate around its leadership grows. 

Ethereum Price Analysis of the Last 24 Hours: ETH Holds Stable Above $1,600

Ethereum started trading at $1,564. The previous day, ETH had been showing range-bound behaviour, which continued yesterday. ETH continued on the downtrend, reaching the $1,545 support in the first few hours of trading. With the asset now oversold, a trend reversal occurred. At 3:00 UTC, Ethereum started climbing up, going up all the way to $1,603 by 8:10. On its way up, overbought conditions were observed, but failed to instigate a trend reversal. As the buying pressure lost steam, Ethereum established support at $1,590. A trading range followed, lasting around four hours until 12:30. At 12:30, a golden cross formed and the buying pressure spiked. 

Chart 1: published on TradingView, April 13, 2025

This led Ethereum to form a steep uptrend, facing rejection only at $1,665. Despite overbought conditions persisting, Ethereum continued to test the resistance. The 14:50 golden cross was significant, but could only take Ethereum down to $1,629, indicating the presence of strong bullish pressure. Ethereum soon stabilized, finding support at $1,637, consolidating above the support despite the falling RSI. At 1:30 UTC on April 13, Ethereum finally faced trend reversal, going on a downtrend to the $1,600 mark. 

Ethereum Price Prediction: Can Ethereum Move Closer to $1,700 Today?

Ethereum is on a strong recovery mission. In the past week, it has continued to gain and hold on to key levels. For now, the downtrend in the Ethereum price looks like a temporary reversal in a much broader general uptrend. Given that, if the bulls persist, a clear uptrend may soon follow. Historically, Ethereum has been able to muster positive breakouts out of trading range. However, a fall below $1,600 could lead to a prolonged bearish pattern dominating the day.

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