Joseph Lubin, CEO of ConsenSys, recently made an important statement about the future of Ethereum, emphasizing that this blockchain platform needs to maintain "reliable neutrality" and "non-political" to protect its identity and integrity within the increasingly complex technology ecosystem. Lubin stated:
"While Ethereum must maintain neutrality, decentralization, and globality, there may be individuals or organizations building applications on Ethereum that have their own biases or political leanings. These applications can leverage Ethereum's open, neutral, and decentralized infrastructure, while still serving specific needs or goals."
Lubin's statement not only emphasizes the openness and non-coercive nature of Ethereum, but also reflects the perspective on the freedom and unrestricted interoperability that this platform provides to users.
He also mentioned the role of companies like ConsenSys and Etherealize in helping governments and businesses better understand the various use cases of blockchain. According to Lubin, these organizations can play an important role in supporting government agencies and companies to recognize the potential of blockchain technology, thereby helping them to fully and effectively exploit blockchain applications.
Lubin's statement comes against the backdrop of concerns that Ethereum may be losing its prominent position in the market due to a lack of strong lobbying efforts.
One notable opinion came from former venture capitalist Ismael Hishon-Rezaizadeh, who believes that "if Ethereum suddenly changes direction, it risks losing its own identity. Establishing lobbying groups to drive these changes will not be effective, as it is too late to have a significant impact in the current context."
This highlights the challenges Ethereum faces in maintaining stability and identity in a highly competitive market.
In addition, Ethereum is currently facing other challenges, including throughput limitations, fragmented liquidity, lack of clear direction from the Ethereum Foundation (EF), and internal instability among development teams. These factors could affect the sustainable development of Ethereum in the future if not addressed in a timely manner.
However, Lubin affirmed that the key members of Ethereum are no longer silent in the face of regulatory impact, especially now that the U.S. Securities and Exchange Commission (SEC) is no longer pursuing lawsuits against them. In late February, the SEC dismissed the lawsuit against ConsenSys, marking a significant milestone in the platform's development.
Lubin also noted that companies like ConsenSys, Etherealize, and many others are changing their mode of operation, shifting from a focus on building to being more proactive in speaking out and coordinating more closely to convey a strong message about Ethereum. He emphasized that this is not only to increase the presence of Ethereum, but also to strengthen the trust and understanding of the community towards this blockchain platform.
Finally, Lubin stated that this change is necessary for Ethereum to continue to develop and maintain its pioneering role in the blockchain technology industry.
"We no longer have to be silent," he declared, demonstrating a strong determination to assert Ethereum's position in a dynamic blockchain world.
With the current price of $2,000, Ethereum is at risk of a sharp decline in the next few hours. The asset has been in a continuous downtrend, reflecting an overall weakening of network activity and investor interest. Ethereum's difficulty in regaining its growth momentum is clearly evident in the recent price action, while the lack of ability to sustain significant recoveries further increases the likelihood of continued decline.
Due to the rapid decline, ETH prices have consistently recorded lower highs and lower lows. The downward-sloping moving averages provide strong support for the clear downtrend on the chart, confirming the dominance of selling pressure on this asset. Weak buying interest and persistent selling pressure are reflected in both the 50-day and 200-day moving averages, both of which are still in a downward trend.
The situation becomes more serious as the Ethereum network scale shows signs of contraction. According to on-chain data, both retail and institutional investors are gradually abandoning this asset, reflecting a decline in the number of transactions and active addresses. This situation is further exacerbated by the stagnation of DeFi activity and the lack of investment in Ethereum-based projects.
Given the current technical outlook, it is difficult to be optimistic about Ethereum in the short term. Losing the $2,000 mark, which has played a crucial role as an important support level both technically and psychologically, could lead to a deeper correction. The next support zones for ETH may be around $1,800, or even $1,700, if selling pressure intensifies.
Although the RSI indicator is still in the oversold zone, which may signal a short-term recovery opportunity, any recovery efforts will need to overcome the strong resistance level at $2,200 to change the momentum. Until then, Ethereum may continue its downward trend as the current market does not show many signs of reversal.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any investment decisions. We are not responsible for your investment decisions.
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