Ethereum developers stated that the network's various metrics remained robust during the price decline

Despite a recent 17% drop in ETH prices, various metrics of the Ethereum network remain high. Marius Van Der Wijden, a core developer at the Ethereum Foundation, stated that the market often struggles to accurately reflect the on-chain technological fundamentals.

Messari analyst Sam Ruskin pointed out that the Ethereum TVL, when measured in ETH, is close to its all-time high, indicating that capital has not flowed out of the ecosystem. Additionally, the queue time for ETH staking entry is about 70 days, showing that institutional demand for locked funds remains strong. Mike Silagadze, CEO of ether.fi, mentioned that user numbers and revenue are still growing, while token prices are lagging behind. Marcin Kazmierczak, CEO of RedStone, believes that the current decline is more of a market noise and that the fundamentals have not weakened.