#Gate广场五月交易分享

Ethereum drops 5.6% for the week, down to $2,275
ETH has decreased 5.6% over the past week, reaching $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 be on the table.
Due to continuous selling pressure, Ethereum has declined over 5.6% in the past week, falling to $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 break below $2,000.
Recent data reveals a sharp decline in transaction volume and user activity on the Ethereum network. Over the past week, weekly transfer counts decreased by 10%, to 4.79 million. During the same period, active wallet numbers also dropped by 8%, to 2.5 million.
One of the clearest indicators of network contraction is transaction fees. Last week, total transaction fees paid on the Ethereum network dropped sharply by about 27%, and on-chain revenue also declined by 47%.
Weekly trading volume on decentralized exchanges (DEX) also saw a significant decrease. Data shows that as of May 8, DEX trading volume fell to $1.64 billion, a 46% decline 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 dropped 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. Unlock queues grew by over 72,000% in two weeks, reaching 530,985 ETH on May 2. As of Friday, over 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, prompting risk-averse investors to withdraw ETH.
These developments have undermined user confidence and led to significant liquidity outflows from the system. Nevertheless, 3.6 million ETH remain in staking queues, with a total of 38.6 million ETH still 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 seen four consecutive days of fund inflows, last Thursday experienced a $103 million outflow, the largest single-day outflow since mid-March. Globally, Ethereum investment products also saw over $81.6 million in outflows last week.
In recent days, ETH buy volume on crypto exchanges has also decreased. 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 psychological level of $2,000, it is expected to test the $1,830 range. Previous reports also mentioned that if the $2,300 resistance level cannot be broken again, ETH may short-term retrace to the $1,750–$1,850 range.
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