#美联储降息预期升温 An often overlooked phenomenon:

Ethereum is entering its "lock-up period" in the real financial system.

According to on-chain data, the staked ETH on Aave has already broken records—over 3 million ETH—and is approaching the 4 million mark.

Is this just simple coin holding? Wrong. Behind it operates a complete ecological flywheel:

**First Ring: ETH Finds Real Use Cases**
From speculative assets to productive tools. In lending protocols, Ethereum is used as collateral in financial cycles, beginning to generate real value. No longer just sitting in wallets waiting for appreciation.

**Second Ring: Aave’s Revenue Is Amplified**
Larger ETH holdings → bigger lending scale → more interest flow → higher protocol earnings. This is a positive feedback loop.

**Third Ring, the Most Crucial Turning Point:**
As more ETH is locked in DeFi for work, the circulating portion is continuously absorbed, but market demand for it does not decrease. Short-term prices may not show changes, but the market’s "underlying infrastructure" is quietly changing.

You will find that more and more ETH is not being prepared for dumping, but truly "working"—generating cash flow and creating returns. When a large amount of long-term capital has not yet fully entered, this is often a signal.

The real upward cycle has never been driven by hype. It is built gradually through assets being continuously used and generating returns, bit by bit.

$BTC $ETH $SOL