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Ethlabs researcher claims ETH still lacks a clear value narrative

2026-07-01 22:03
Odaily Planet Daily News: Former Ethereum Foundation researcher and Ethlabs member Ansgar Dietrichs said on Laura Shin's Unchained podcast that after ETH failed to break through $5,000 in five years, it still lacks a clear value narrative. Ethlabs was established on June 22 and is founded by five former Ethereum Foundation researchers, with support from Bitmine, Sharplink, and Consensys founder Joe Lubin.

On-chain analysis company Cryptoquant stated that currently over 32% of ETH's supply, approximately 39.5 million ETH, is staked, while exchange balances continue to decline. The company also noted that Ethereum's daily active addresses and smart contract activity have hit records, but ETH's price has fallen more than 50% from its high point in this cycle.