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Ethereum price drops 28% since January but on-chain activity and staking remain strong.

Protocol Fundamentals
23 May 2026
Cointribune
View Source
Neutral
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Despite a 28% price drop since January, Ethereum continues to attract accumulators due to sustained on-chain activity in DeFi, stablecoins, and tokenized assets. Nearly 39.1 million ETH are staked, representing about 32% of the total supply, with high demand to become validators. Analysts see Ethereum in an accumulation phase between $1,000 and $5,000, with potential long-term targets between $7,700 and $14,000 by 2027-2029. The future depends on the resilience of on-chain activity and price movements, with strong staking and DeFi use signaling ongoing interest despite market pressure.

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