The deep correction led by ETH this time is due to market panic caused by the continuous increase in ETH staking volume, and the underlying reason is actually that a large number of arbitrageurs (including whales and institutions) need to reduce the leverage of stETH due to the soaring ETH lending rates on AAVE, rather than engaging in bulk profit selling. It may be the behavior of a whale that caused a surge in interest rates, resulting in market ripples. At present, the narrative of ETH has changed. It is not a globally decentralized computer, nor is it an infrastructure for decentralized finance, but rather a smart contract infrastructure for reconstructing future encrypted finance. hold and buy the dip!