Ether.fi CEO calls ETH price drop temporary market noise

Mike Silagadze, CEO of Ether.fi, has evaluated the recent decline in Ethereum's price as "merely market noise, not a sign of weakening fundamentals." In an interview with CoinDesk, he said the ETH staking queue has now extended to approximately 70 days, demonstrating that demand for the Ethereum network remains strong regardless of short-term price volatility. Silagadze noted that long-term staking demand, particularly from institutions, is holding steady. He also pointed out that while the price is falling, the actual number of users and revenue are on an upward trend. "We are looking at long-term growth," Silagadze stated, adding that the current market environment is positive now that the overheating from retail investors has subsided. He emphasized that the next cycle will be driven by tangible adoption and utility rather than memes, creating an environment where builders can focus on long-term value. Silagadze concluded that the disconnect between Ethereum's price and its development activity is a recurring phenomenon, recalling that the network has achieved its most significant technical milestones during chaotic market periods as builders continued to implement new technology.