Higlights

• Ethereum (ETH) records price movement alongside governance discussions.
• Danny Ryan submits a proposal to reshape the Ethereum Foundation’s public role.
• ETH rebounds from recent lows amid sideways yearly performance.
• Stakers queue over 4.06 million ETH while exit demand stays limited.
• Network activity rises following the Fusaka upgrade.

Ethereum’s native token, ether (ETH), is trading at 2,093.69 USD, up +4.74 (0.23%) as of 9 Feb 2026. The price movement comes during a period of mixed signals across the broader crypto market, with Ethereum navigating governance discussions, shifting industry dynamics, and changing usage trends on its network.

Governance Signals from Within

In November 2024, US crypto developer Danny Ryan submitted a proposal to Vitalik Buterin, the founder and symbolic leader of Ethereum. Ryan, who spent seven years at the Ethereum Foundation (EF), stated that Ethereum had entered a new phase of maturity. Since its founding in 2014, the EF had focused primarily on technical upgrades while avoiding concentrated authority during its growth phase. Ryan suggested the foundation could now take a more visible role in industry conversations without changing its decentralised structure. He also expressed willingness to take on the role of executive director to guide this shift.

Policy Backdrop Shapes Strategy

The proposal coincided with changing political and economic conditions for the crypto sector. Trump’s re-election campaign received major funding from crypto firms and advocacy groups, alongside commercial ties between the industry and the Trump family. Expectations of favourable policy changes led market participants to anticipate closer links between digital assets and traditional finance. These developments contributed to leadership changes within the Ethereum ecosystem, with newly appointed leaders expected to engage more directly with institutional finance.

Price Movement and Recent Patterns

Ether remains around 20% lower year-on-year, reflecting a broader decline across crypto assets. Its price has remained largely unchanged since November 2024, returning to levels seen in 2022. Recently, ETH rebounded from a weekly low of USD 1,738 to about USD 2,080, forming a hammer candle and confirming an inverted head-and-shoulders pattern. This price action occurred while ETH continued to trade well below its previous high near USD 5,000.

Staking Trends and Network Use

Investor participation through staking remains elevated. Over 4.06 million ETH, valued at approximately USD 10 billion, are currently queued for staking, while only 31,915 ETH are queued for withdrawal. At the network level, activity increased following the Fusaka upgrade. Active addresses rose 38% in the past 30 days to over 15 million, while transactions increased 37% to more than 70 million. Ethereum also holds over 70% market share in real-world asset tokenization during this period.

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