🚨 More than 521,000 ETH (~1.93 billion USD) are queued for liquidation — this is the longest validator queue in the past year.

Many people are concerned: Is this a signal for a large-scale sell-off?

Not exactly.

🔹 On the same day, 360,000 ETH were staked, so the net outflow of funds was not too large.
🔹 ETH spot ETF funds attracted 3.1 billion USD in inflows in just one day on July 22.
🔹 Validators must wait more than 9 days for ETH to be withdrawn.
🔹 On-chain data shows that ETH is moving to DeFi, NFTs, or arbitrage activities, not piling up on CEX.

📉 The LST losing its peg ( like stETH = 0.996) is creating an attractive arbitrage opportunity.
🏦 Many large organizations may be converting their custodial units or strategies to use ETH.

But what is more noteworthy...

👀 BlackRock currently holds over 2 million ETH (1.5–2% of the total supply ) through ETFs.
And this is a public action, not a covert manipulation — they are positioning ETH as a mainstream financial asset.

👉 What is happening is not a "dump", but a transfer of power — from the original crypto whales to Wall Street.

Liquidation is not a signal of decline. This may be the starting point of a new cycle.
#Ethereum # ETH #GiảiChấp # ETF #BlackRock # CryptoNarrative #DeFi # Web3