It wouldn't be the first time a project had bad news and then increased in capitalization.  Probably whales and/or insiders who are performing their own private bail-in or stimulus package to stop a market collapse.

but the other fact is 1% of the total supply of Ethereum was probably the liquid Ethereum.  So maybe this 1% of the total supply is actually 10%-75% of the daily traded Ethereum and this scarcity is keeping the price stable.