As the world's second-largest cryptocurrency, Ethereum's development dynamics have always attracted attention. Recently, there has been intense discussion within the community regarding Ethereum's governance and future direction. Especially against the backdrop of the Ethereum Foundation (EF) facing pressure, a new organization named 'Ethereum Second Foundation' has quietly emerged, sparking widespread attention and discussion.
As the main governing body of the Ethereum ecosystem, the Ethereum Foundation has faced strong opposition from the community in recent years, especially amid the ongoing poor performance of Ethereum's price during the bull market. Community members have expressed dissatisfaction with the foundation's leadership structure and decision-making process, believing it fails to adequately reflect the community's voice. Additionally, the foundation's frequent selling actions have been viewed by many investors as irresponsible toward the market, leading to a decline in trust towards its leadership. Vitalik Buterin, the co-founder of Ethereum, has frequently stepped forward, promising significant reforms to the foundation's leadership structure in an attempt to quell community dissatisfaction.
Meanwhile, Ethereum core developer Eric Conner, who had not been very involved in the foundation's affairs, officially announced his exit from the Ethereum community and will focus on the integration of cryptocurrency and artificial intelligence. This news has raised broader concerns, and the community is filled with doubts about Ethereum's future.
Against this backdrop, a new organization called 'Ethereum Second Foundation' unexpectedly appeared on January 23, quickly attracting widespread attention. The organization's goal is to strengthen support and development for the Ethereum ecosystem. Although the Second Foundation has not yet been officially established, its first tweet garnered over 160,000 views and more than 5,000 subscribers within just two hours.
Notably, Lido founder Konstantin Lomashuk immediately retweeted and expressed his attention upon seeing the tweet, leading to further speculation that the Second Foundation might have been established under his leadership. However, Konstantin later clarified that the Second Foundation has not been officially established and emphasized that the future of Ethereum will be written collectively by all enthusiasts.
In response, TRON founder Sun Yuchen made a striking statement. He stated that if he could lead Ethereum and the Ethereum Foundation, the price of ETH could easily reach $10,000. He also proposed his own plan, which includes immediately stopping the sale of ETH, optimizing revenue models, and imposing heavy taxes on Layer 2 solutions.
In his vision, Sun Yuchen emphasized the importance of stopping sales, believing this would help stabilize Ethereum's market price. He also plans to ensure Ethereum remains in a deflationary state by reducing node rewards and enhancing fee-burning mechanisms, thereby consolidating its position as a store of value.
Regarding Sun Yuchen's suggestions, some expressed their approval, suggesting the Ethereum Foundation quickly copy the homework, while others sarcastically commented: 'Let's first get TRX to $1.' There were also netizens questioning whether the content was 100% AI-generated. Recently, Vitalik Buterin, the co-founder of Ethereum, who has frequently expressed opinions on the reform of the Ethereum Foundation, has not responded to Sun Yuchen's suggestions.
The crisis of division within Ethereum has garnered significant attention from the market, and investors are filled with uncertainty about future trends. The community's demand for governance structure and desire for transparency may prompt the Ethereum Foundation to undertake deeper reforms. However, the market's response may not be straightforward. Ethereum's price may fluctuate in the short term due to various factors, but the long-term direction will depend on the stability of the governance structure and the unity of the community.
The future of Ethereum remains full of variables. With the potential emergence of the Second Foundation and Sun Yuchen's bold statements, discussions within the community will become even more heated. In the face of a constantly changing market environment, whether Ethereum can seize the opportunity to enhance its value will depend on the collective efforts and wisdom of all participants. We look forward to seeing Ethereum find a path suitable for its development in a new round of challenges.