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The Ethereum Foundation has announced a considerable stir in its leadership ranks, Naming two new ones Co-executive directors while it starts a new strategic direction. Hsiao-Wei Wang and Tomasz Stańczak will jointly take the helm of the non-profit that protrudes the development of Ethereum, to replace the only executive role that was previously held by Aya Miyaguchi.
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On the other hand, Miyaguchi, who has served executive director for seven years, went to the newly established position of Foundation President. This interesting change in leadership comes as the price of Ethereum Continues to decline On the way to $ 2,000.
Co-Executive Directors take over from the Ethereum Foundation
The new leaders of Ethereum bring a mix of deep protocol expertise and industrial experience. HSiao-Wei Wang, a seven-year-old veteran of the research team of the Ethereum Foundation, made an important contribution to core initiatives such as the Ethereum 2.0 Beacon Chain and Sharding Research. She also earned respect as a community builder by organizing Ethereum developer events in Taiwan.
Tomasz Stańczak is now best known as the founder of Nethermind, one of the most important software clients of Ethereum, which he grew from a small project in a worldwide blockchain infrastructure company. The expertise of Stańczak in Engineering and Talent Development is expected to strengthen the technical teams of the foundation, and he is even in the process to resign as CEO of Nethermind to concentrate on this new role.
This leadership re-structuring is a shift of the earlier arrangement of Ethereum, where decision-making was often aimed at a few figures such as Miyaguchi and even Ethereum maker Vitalik Buterin. Buterin, who had hinted that there were changes, went to social media platform X congratulate Wang and Stańczak on their agreements.
In practical terms, the new directors are expected to doubl the technical R&D (such as scale improvements and protocolupgrades) and the developer community, all of them, while the Ethos of Etheum loves a permissionless and censors -resistant financial platform intact.
Price promotion more bearish than bullish
Ethereum’s market performance has declined completely In recent weeks, an extension of the underperformance in the current market cycle. After a strong start of the year in which the ETH price increased to around $ 3,700 at the beginning of January, the momentum has been a decrease in the last two months.
The lack of a bullish price momentum of ETH has been worsened in particular by Bitcoin’s price crash in the past week, which has flowed to the Altcoin market. This fall in the price of Ethereum is accompanied by a decrease in activities on the chains and Sentiment reaches one 12 months low.
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The transaction volumes at the end of February fell by around 15%, to around $ 12 billion a day, the lowest in two months, while the number of active ethereum addresses fell by 10% in the same period.
At the time of writing, Ethereum acts at $ 2,210 and runs the risk of Break under $ 2,200 this week.
Featured image of VOI, Graph of TradingView