On-chain data shows that Ethereum recently staged a performance of 'The Vanishing Staker' — the longest net outflow of staking in 84 days after the upgrade, with 34 million ETH withdrawn, enough to award each Ethereum developer a 'Best Escape Medal'.

— The DeFi veterans are burning 41% of the block fuel with gas fees (Uniswap traders' speed is comparable to eSports players), while watching NFT players collectively exit (gas proportion plummeted from 32% to 7%), creating a real-life 'on-chain Squid Game'.

At this moment, the ETH price resembles tourists diverted by L2s — the daily active addresses on the mainnet have shrunk to 550,000, while the TVL of L2 has surpassed 20.7 billion USD.

— However, ETF funds are making a contrarian move, with a single-day inflow of 300 million USD resembling the classic plot of 'retail investors cursing while adding to their positions'.