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Ethereum stands at a strategic intersection. Although it has achieved significant technical progress, transition to the evidence of roles, reduction of issuing and scaling through the rolling, these progress brought compromises: fragmented experiences of users, weakened the collection of fees and loss of narrative clarity. However, in 2025, signs of a renewed direction appeared. The Pectra upgrade, the Ethereum Foundation is changed, and the growing institutional engagement reflects a shift towards the rebalancing of the L1 and L2 priority. Instead of choosing one identity, Ethereum works on the construction of a cohesive, scalable foundation that can support multiple roles, layers of settlements, environments for execution and monetary assets, and at the same time remains credibly neutral and decentralized.
