Bitcoin’s dominance has surged past 60%, while Ethereum remains far from reclaiming its previous prominence. As the crypto market dynamic shifts, Ethereum’s share of the overall market has dropped to its lowest point in five years. According to David Hoffman of Bankless, Ethereum’s current struggles are not technical but structural and cultural. Years of prioritizing long-term research and Layer-2 scaling have neglected its core Layer-1 network. While rollups may have eased congestion, they’ve also fragmented the ecosystem and diminished mainnet activity. 🤯 💨 Interviews with Ethereum Foundation insiders highlight a need to prioritize the base layer once again. Upcoming upgrades like Glamsterdam aim to significantly increase gas limits, while zk-based systems are being explored for supercharged throughput. The goal is to scale Ethereum 100x without sacrificing decentralization. 🏗️ ✨ ⚡️ However, technical advancements alone won’t solve Ethereum’s identity problem. Its slow decision-making and lack of clear leadership have contributed to internal stagnation. Critics point to a research-driven environment that often overlooks usability and speed – two areas where newer chains are gaining ground. 🧠 🏃♂️ To overcome this, Ethereum is shifting its focus from pure research to product development with a new leadership team and shorter development cycles. Interoperability between Layer-1 and Layer-2 networks is being streamlined, and initiatives like the Pectra upgrade aim to enhance user experience, reduce costs, and reignite the ecosystem’s energy. ⚡️ Ethereum still possesses immense potential but only if it adapts to the changing crypto landscape. The next year will likely show whether it regains its footing or continues to decline in a rapidly evolving field. 📈