‍#Gate广场五月交易分享

Ethereum Loses 5.6% Weekly, Falling to $2,275

ETH fell 5.6% in the past week to $2,275.

Falling on-chain data showed a significant decrease in transaction and user numbers on the network.

Selling pressure from US investors and ETF outflows are challenging price stability.

Critical situation: If below $2,000 is tested, a drop to $1,830 may be on the agenda.

Ethereum has lost more than 5.6% in the last week, falling to $2,275, due to consecutive selling pressure. This pullback, which began with the rejection of the $2,400 resistance point, is accompanied by various on-chain data. Current indicators suggest that the ETH price may fall below $2,000.

Recent data revealed a significant decrease in transaction volume and user activity on the Ethereum network. The average weekly number of transfers decreased by 10% to 4.79 million. The number of active wallets also decreased by 8% during the same period, falling to 2.5 million.

One of the clearest indicators of this contraction in network usage was seen in transaction fees. In the last week, total transaction fees paid on the Ethereum network decreased significantly by approximately 27%, while on-chain revenue also fell by 47%.

Weekly trading volume on decentralized exchanges (DEXs) also dropped considerably. According to data, DEX trading volume fell to $1.64 billion on May 8th, losing 46% in the last three weeks. This indicates a general weakening in the ecosystem's usage.

Parallel to this shrinkage in the ecosystem, the total amount of assets locked (TVL) in decentralized finance (DeFi) protocols on Ethereum also decreased to $124.7 billion. This figure marks the lowest level seen since May 2025.

The amount of ETH locked on the Ethereum network by users also showed significant changes. The unlock queue saw an increase of over 72,000% in two weeks, reaching 530,985 ETH on May 2nd. As of Friday, it was reported that over 202,000 ETH were waiting to be unlocked, with an estimated waiting time of three days.
This increase was influenced by recent large-scale DeFi attacks and cybersecurity vulnerabilities. Repeated attacks in April 2026 resulted in record losses of $625 million. In particular, the $292 million loss from the KelpDAO bridge attack and the over $15 billion outflow from Aave triggered a desire among risk-averse investors to reclaim their ETH.

These developments fueled a loss of confidence among network users and caused a significant amount of liquidity to leave the system. Despite this, the fact that 3.6 million ETH is in the staking queue and a total of 38.6 million ETH remains locked indicates that users are holding onto their positions in the long term.

Selling pressure is coming primarily from US investors. This shows that US-based selling pressure is above the global average, increasing the downward movement in price.

While there was a four-day consecutive inflow of funds into US-based spot Ethereum ETFs, a $103 million outflow occurred last Thursday. This marks the largest daily fund outflow since mid-March. Globally, Ethereum investment products also saw outflows exceeding $81.6 million last week.

In recent days, a decline in ETH purchase volume has also been recorded on a crypto exchange. While aggressive sell orders have increased in the spot market, the daily ETH/USD price chart indicates a break below the lower support of the falling wedge pattern. Bulls are struggling to hold the price around the moving averages in the $2,150-$2,200 range.

If the price falls below the psychological barrier of $2,000, it is predicted that the price could drop to the $1,830 range. Previous reports also highlighted the possibility of a short-term pullback to the $1,750-$1,850 range for ETH if the $2,300 resistance is not breached again.
‍$ETH