I recently looked at some data, and it's quite interesting. The ETH staking queue now has over 1.76 million coins stacked, compared to only 36.8 coins in the exit queue—this stark contrast is definitely telling a story.

From this phenomenon, two clear signals can be read. First, the market's long-term outlook on ETH is generally optimistic. So many coins are locked in staking and not moving, which means holders generally believe the price will rise later. A large amount of ETH being frozen naturally reduces the circulating supply, providing strong support for the price.

Second, the current selling pressure is really minimal. Very few people are exiting, in plain terms, everyone is reluctant to sell. No one is in a rush to cash out, so the market won't face significant panic selling risks.

From a more macro perspective, ETH is completing its transformation from a simple liquidity asset to a yield-generating asset. On one side, supply is tightening; on the other, demand is still locked in. With this dual effect, the medium- to long-term upward trend is basically inevitable. As long as there are no black swan events in the broader environment, the downside should be limited. Buying on dips remains a relatively reliable strategy.