Bankless Cofounder David Hoffman Reveals Strategy To Improve Ethereum Price Performance

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Bankless Cofounder David Hoffman Reveals Strategy To Improve Ethereum Price Performance – Crypto News

Published

3 days ago

April 12, 2025

Dripp

Ethereum’s torrid patch is extending into Q2 of 2025, forcing industry players to wade into proffer advice for the largest altcoin. Bankless confounder David Hoffman says a change in network culture will have the biggest impact on the Ethereum price performance.

David Hoffman Wants Ethereum Community To Stop Policing Behaviour

Bankless cofounder David Hoffman has revealed suggestions to improve Ethereum price performance, pointing to a culture and leadership shift in the network. According to an X post, Hoffman says mainstream Ethereum critics are sidestepping the real reason for ETH’s lackluster price performance in recent months.

Hoffman notes that Ethereum’s leadership and its culture of alienating users and builders is to blame for its underwhelming performance. The cryptocurrency executive cited the public exorcism of ETH staking platform Lido Finance and criticism against degenerate traders.

At the time, Lido Finance came under fire from the Ethereum community for regulatory, centralization, and security concerns while degens took flak for spiking gas fees and lack of long-term projects.

He argues that the broad hostility against a class of users plays a big role in the Ethereum price decline. Hoffman notes that the network’s attempt to police behavior on a permissionless chain is the straw that broke the camel’s back. Ethereum price is hanging onto the $1,500 mark after sinking to lows of $1,415 over the last week.

To remedy the situation, David Hoffman is advocating for the Ethereum Foundation (EF) to attract users and builders to the network, demonstrating the spirit of true decentralization.

“If we want ETH to group, the EF and broader community need to start attracting users and builders, not pushing them away with a holier-than-thou culture,” said Hoffman.

Ethereum Price Is Staging A Strong Recovery

Hoffman’s comments come amid a fresh market resurgence for Ethereum price with ETH grabbing a 6% spike over the last day. While ETH price has declined to a 5-year low against Bitcoin, momentum is rising for prices to reclaim $2,000.

One side, backed by community members like Leo Glisic sees a potential upside for Ethereum, driven by a simple investment narrative.

“The play is infrastructure for the future global financial system,” said Glisic. “Ethereum will serve as the settlement and interoperability layer, which is a winner-take-all market.”

However, CryptoCurb is comparing Ethereum to Nokia’s downfall, noting that Solana will displace ETH like Apple to become the largest altcoin. Critics like CryptoCurb and Peter Schiff say the rally is unsustainable and an ETH decline below $1,000 is a possibility.