Ethereum

DeFi

<p>Despite a 28% drop since January, Ethereum keeps the market’s attention. The price decline occurs while accumulators still follow on-chain signals. In this context, DeFi, stablecoins, tokenization, and staking show sustained activity. This situation provides a broader reading than price performance alone.</p>
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  <h2 class="in-brief--title" id="in-brief">In brief</h2>
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   <li>Ethereum has dropped 28% since January, but its on-chain activity remains sustained.</li>
   <li>The network keeps a major role in DeFi, stablecoins, and tokenized assets.</li>
   <li>Accumulators continue to follow staking, with nearly 39.1 million ETH locked.</li>
   <li>Analysts still watch a historic accumulation zone before a possible new cycle.</li>
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<h2 id="h-ethereum-remains-dominant-in-defi-and-tokenized-assets">Ethereum remains dominant in DeFi and tokenized assets</h2>
<p>Since January, the <a href="https://www.cointribune.com/en/analysts-warn-of-a-drastic-drop-in-ether-if-the-2000-support-breaks/" rel="noopener noreferrer nofollow">decline in ether’s price</a> has put the network under pressure, without erasing its weight in on-chain activity. It retains an important place in decentralized finance, stablecoins, and tokenized assets.</p>
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<p>Here are four <a href="https://cointelegraph.com/markets/ether-analyst-claims-eth-is-still-a-good-long-term-buy-heres-why?utm_campaign=rss_partner_inbound&amp;utm_medium=rss&amp;utm_source=rss_feed" rel="noopener noreferrer nofollow">key figures</a> that summarize this situation:</p>
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 <li>About 43 billion dollars in liquidity remain hosted in DeFi.</li>
 <li>More than 165 billion dollars in stablecoins are still circulating on the network.</li>
 <li>Nearly 55% of tokenized assets tracked on public blockchains are linked to Ethereum.</li>
 <li>Tokenized ETFs exceed 400 million dollars in capitalization, with 76.9% market share for the network.</li>
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<p>For accumulators, this data provides a benchmark for the actual use of the protocol. Indeed, price decline is not enough to summarize the ecosystem’s state. Liquidity, stablecoins, tokenized ETFs, and tokenization still signal significant activity despite a fragile context.</p>
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<h2 id="h-accumulators-watch-staking-and-queues">Accumulators watch staking and queues</h2>
<p>Staking is also progressing despite the decline observed this year. The <a href="https://www.validatorqueue.com/" rel="noopener noreferrer nofollow">network data</a> shows that nearly 39.1 million ETH holders have staked their coins, which is about 32% of the total supply. This reserve is split among more than 896,000 active validators.</p>
<p>Furthermore, the demand to enter as a validator remains high. More than 3.49 million ETH are waiting in the queue, which implies a waiting time of over 60 days. Conversely, the exit supply remains limited, with 7,424 ETH reported.</p>
<p>This contrast helps accumulators read the long-term trend around Ethereum, as large volumes remain locked despite the <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" rel="noopener noreferrer nofollow">drop in Ether price</a>. These accumulators seem to favor duration even if the market remains under pressure since January.</p>
<h2 id="h-analysts-watch-a-historic-price-zone">Analysts watch a historic price zone</h2>
<p>Flows to accumulation-dedicated addresses reinforce this observation. On May 20, inflows reached 248,400 ETH, the highest daily inflow since January 6, according to <a href="https://cryptoquant.com/community/dashboard/67aa8b9df554423ca5d21d5c?e=67c82866db113415286de395" rel="noopener noreferrer nofollow">CryptoQuant data</a>. These wallets show few sales, often associating them with long-term holders.</p>
<p>On charts, Ethereum remains described in an accumulation phase between 1,000 and 5,000 dollars. CryptoBullet sees this period as a gradual building of positions ahead of a broader trend. It <a href="https://x.com/CryptoBullet1/status/2057484360530428234?s=20" rel="noopener noreferrer nofollow">also mentions</a> a possible capitulation zone between 1,000 and 1,300 dollars.</p>
<figure class="wp-block-image size-large"><img width="1024" height="567" src="https://www.cointribune.com/app/uploads/2026/05/graphique-Ethereum-1024x567.jpeg" alt="Weekly ETH/USD chart on Coinbase showing an Ethereum accumulation phase, with a buying zone estimated between $1,000 and $1,300 and long-term bullish targets.">
 <figcaption><em>Weekly chart of ETH/USD pair. Source: X</em><br>
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<p>Moreover, CryptoBullet estimates that Ethereum could aim, in the long term, for a zone between 7,700 and 14,000 dollars during 2027-2029. On the other hand, Rei d’Onchain follows a model based on the two-year simple moving average. According to this model, Ethereum went below the x1 band, often considered a fair value zone. For accumulators, this zone can serve as a benchmark in a cyclical market reading.</p>
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<p>The future will mainly depend on the resilience of on-chain activity and price movement against historical zones. If inflows, staking, and DeFi remain strong, <a href="https://www.cointribune.com/en/ethereum-2/" rel="noopener noreferrer nofollow">ETH</a> could continue to be treated as an asset in the accumulation phase. However, a continued decline would keep open the possibility of a lower test before any expansion cycle.</p>

Ethereum attracts accumulators despite 28% drop since January

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