Recent whale activity and low network fees on the Ethereum blockchain have raised market concerns about potential price declines. Galaxy Digital’s large ETH transfers, valued at over $100 million, suggest a possible sale, while low transaction fees point to reduced demand for Ethereum despite its real-world adoption in cities like Panama City. 8 62,000 ETH transferred by Galaxy Digital in just six days raise questions about the firm’s intentions, with analysts splitting on whether it’s preparing for a sell-off or rebalancing its portfolio. However, these consistent deposits to exchanges have cast caution on the market. The drop in Ethereum network usage, hitting a five-year low as of April 11th, suggests weak demand and potential supply outpacing demand. This decline coincides with the price of ETH dropping to near $1,583, fueled by reduced network activity. Analysts warn that this low fee environment signals bearish trends for Ethereum’s future price action unless network usage rebounds. The article highlights the disconnect between real-world adoption in cities like Panama City and Ethereum’s declining network activity. It emphasizes the need for increased demand and on-chain engagement to drive Ethereum’s price action and overcome current challenges.