Recently, the crypto world has been filled with doubts about Ethereum. Social media is full of claims that "ETH is outdated," with many mocking Ethereum's "slowness" by pointing to the high performance of Solana or Sui, and even claiming it has lost its innovative spirit. The market sentiment index has dropped to over 40, and panic is spreading.

But if you truly pay attention to on-chain data, you'll see a completely different picture.

Even amidst the whirlpool of public opinion, the staking of Ethereum PoS continues to grow, with the locked-up amount surpassing 1.57 million ETH. This is not retail investors following the trend; it’s large capital voting with real money—they simply ignore the noise on Twitter and focus on where Ethereum’s true moat lies.

This moat is not built on TPS numbers. In ten years of operation, there has never been a network-wide shutdown or rollback, and this "anti-fragility" is fundamental. You’ll find that those public chains promoting extreme performance actually achieve speed by reducing validation nodes and raising hardware requirements. What does that imply? They sacrifice decentralization’s bottom line.

Ethereum’s logic is simple: a system that an ordinary person cannot verify is inherently fragile in its security assumptions. This is not a performance race; it’s a philosophical debate. The large capital bets on this uncompromising value system.