Ansgar Dietrichs Says Ether Still Lacks Clear Value Narrative After Five Years Below $5,000

Former Ethereum Foundation researcher and Ethlabs member Ansgar Dietrichs said on Laura Shin’s Unchained podcast that ETH still lacks a clear value narrative after failing to break $5,000 over the past five years. According to Odaily, Ethlabs was established on June 22 by five former Ethereum Foundation researchers and has received support from Bitmine, Sharplink, and Consensys founder Joe Lubin. On-chain analytics firm CryptoQuant said more than 32% of ETH supply, about 39.5 million ETH, is currently staked, while exchange balances continue to decline. CryptoQuant also said Ethereum’s daily active addresses and smart contract activity have reached record levels, but ETH is down more than 50% from this cycle’s peak.