contained enthusiasm after the recent surge in Ether can be partially attributed to the sharp decline of 85% in Ethereum network fees from January to April. Reduced network activity lowers the overall demand for ETH and negatively affects staking net yields, as the protocol's burn mechanism relies on competition for data processing.

The ETH options markets also provide insights into whether whales and market makers anticipate more downside risks.

Currently, put options are being traded at levels similar to equivalent call options, indicating a neutral sentiment. This outcome is somewhat discouraging for Ether optimists. However, Ether may regain market attention after U.S. President Donald Trump reversed his position following previous public support for competing altcoins.