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• Dragonfly Managing Partner Haseeb Qureshi has suggested that ETH may be on the verge of mounting a resurgence.

• The Ethereum Foundation has undergone a structural change and outlined specific goals for the next 12 months.

• Ethereum has posted modest gains as sentiment appears to be improving.

Over the past few years, the vibes in the Ethereum community have been in the dumps. Amid an uncharacteristic underperformance of fellow market leaders Bitcoin and Solana, ETH holders have called into question the asset’s investment thesis and pointed fingers at the Ethereum Foundation, the non-profit that plays the role of the network’s primary developer, for lacking transparency and failing to do enough to stay ahead of the competition.

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But things may now be looking up for the leading Layer 1 blockchain. At least, this is the growing consensus following a recent shakeup at the Ethereum Foundation, which has seen it establish a separation of powers between a management team and a board of directors, appoint new directors, and outline specific goals for the next 12 months.

“This may be the beginning of the ETH revival,” Dragonfly Managing Partner Haseeb Qureshi said on Tuesday.

Qureshi’s statement came in response to the goals outlined by the Ethereum Foundation’s new co-executive directors, Hsiao-Wei Wang and Tomasz Stańczak. These goals include scaling the Layer 1 chain to handle more volume, improving data availability for Layer 2 chains to minimize chances of fee spikes, and improving overall user experience.

The outlined goals have sparked excitement as they appear to signal a shift from the rollup-centric roadmap, which has drawn fire for favoring Layer 2 improvements over Layer 1, driving volume to the former at a cost to ETH’s price and the mainnet experience while still leading to liquidity fragmentation.

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Stańczak could not emphasize the shift enough.

“We will be focused on the success of the Ethereum mainnet protocol. Ethereum mainnet will remain a global, neutral network, a protocol trusted to be trustless. We will focus on the success of Ethereum mainnet and the entire ecosystem – L2s that bring mass adoption and numerous benefits to the users, mainnet that stands as both a solid rock and a nimble network behind all the transactions and coordination mechanisms,” he said in a Monday note.