#Gate广场五月交易分享

Ethereum drops 5.6% for the week, falling to $2,275
ETH has decreased 5.6% over the past week, down to $2,275.
On-chain data shows a significant decline in transactions and user activity on the network.
Selling pressure from U.S. investors and outflows from ETF funds are challenging price stability.
Crisis scenario: if it falls below $2,000, the possibility of dropping to $1,830 may also come into play.
Due to continuous selling pressure, Ethereum has declined over 5.6% in the past week, reaching $2,275. This correction began with rejection at the $2,400 resistance level and is accompanied by multiple on-chain data points. Current indicators suggest ETH could fall below $2,000.
Recent data reveals a sharp decrease in transaction volume and user activity on the Ethereum network. Over the past week, average weekly transfers decreased by 10%, to 4.79 million. During the same period, active wallet numbers also declined by 8%, to 2.5 million.
One of the clearest indicators of network contraction is reflected in transaction fees. Last week, total transaction fees paid on the Ethereum network dropped sharply by about 27%, and on-chain revenue also fell by 47%.
Weekly trading volume on decentralized exchanges (DEX) also saw a significant decline. Data shows that as of May 8, DEX trading volume dropped to $1.64 billion, a 46% decrease over the past three weeks. This indicates a weakening of the overall ecosystem activity.
Alongside ecosystem contraction, the total value locked (TVL) in Ethereum-based decentralized finance (DeFi) protocols also fell to $124.7 billion, the lowest level since May 2025.
The amount of ETH locked by users on the Ethereum network has also changed significantly. The unlock queue grew by over 72,000% in two weeks, reaching 530,985 ETH on May 2. As of Friday, more than 202,000 ETH are reported to be waiting to unlock, with an expected wait time of three days.
This increase has been influenced by recent large-scale DeFi attacks and network security vulnerabilities. Multiple attacks in April 2026 caused a record loss of $625 million. Notably, the KelpDAO bridge attack resulted in a $292 million loss, and over $15 billion in funds flowed out of Aave, sparking risk-averse investors to withdraw ETH.
These developments have undermined user confidence and led to significant liquidity outflows from the system. Nevertheless, there are still 3.6 million ETH in staking queues, with a total of 38.6 million ETH locked, indicating users are maintaining their positions from a long-term perspective.
Selling pressure mainly comes from U.S. investors. This suggests that selling pressure in the U.S. market exceeds the global average, intensifying downward price movement.
Although U.S.-based spot Ethereum ETFs have experienced four consecutive days of fund inflows, last Thursday saw a $103 million outflow, the largest single-day outflow since mid-March. Globally, Ethereum investment products also experienced over $81.6 million in outflows last week.
In recent days, ETH buy volume on crypto exchanges has also declined. Despite increased aggressive sell orders in the spot market, the daily chart of ETH/USD shows the price has broken below the lower support of the descending wedge pattern. Bulls are struggling to hold the price near the moving averages in the $2,150–$2,200 range.
If the price falls below the $2,000 psychological level, it may drop to the $1,830 range. Previous reports also mentioned that if the $2,300 resistance level cannot be broken again, ETH could short-term retrace to the $1,750–$1,850 range.
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