Ethereum staking surpasses one million, Vitalik's ideals and reality are diverging

On one side are the founders’ warnings, and on the other side is the enthusiasm of capital. When over one million ETH are locked in staking, Vitalik Buterin is calling on developers to draw a clear line from the contemporary internet. This is not just a technical debate but a fundamental question about what Ethereum should ultimately become.

Declaration of a Sovereign Network

Recently, Vitalik made statements targeting what he calls the “corposlop” phenomenon—the current internet ecosystem dominated by corporations, manipulated by algorithms, and built on data exploitation. He urges the industry to build a “sovereign network,” an infrastructure capable of safeguarding user autonomy, resisting corporate psychological tactics, and refusing to be platform-dependent.

In his discourse, the meaning of sovereignty extends far beyond the technical:

“Protect your mind from corporate psychological warfare, and avoid their plunder of attention and money.”

He further elaborates that sovereignty means acting based on conviction, rather than becoming slaves to homogenized, human-dulling concepts like “meta.” Behind this is a call for localized, privacy-first tools—an approach fundamentally opposed to today’s internet logic.

Capital Has Made Its Choice, but the Future Is Unclear

Contrasting sharply with the ideals expressed by this tech leader is the unprecedented influx of institutional capital into the Ethereum ecosystem.

Data shows that even as staking yields fall to multi-year lows, BitMine has still invested over one million ETH in a single month, pushing the validator queue to levels rarely seen since 2023. Meanwhile, compliant staking products from Grayscale and 21Shares have begun distributing yields.

Currently, Ethereum (ETH) trades around $3.36K, despite the ecosystem facing an identity crisis, large capital continues to show firm confidence. This stark contrast is intriguing: on one hand, deep skepticism about internet ideals; on the other, a massive bet on its economic value.

The Intersection of Ideals and Interests

Even more thought-provoking is that a wallet associated with Vitalik transferred 330 ETH (worth about $1.02 million) to Paxos. This transfer aligns with his past behavior of reallocating assets for ecosystem, charity, or operational needs, but it occurs precisely when he is loudly advocating for “sovereignty” and “privacy.”

A core paradox emerges here: while Ethereum’s most important creator warns against “corposlop” eroding user autonomy, institutional capital regards it as the most reliable store of value. The vision of a sovereign network is colliding with the reality of capital centralization.

Deep Reflection

Ethereum is at a delicate crossroads. On one hand, it is hoped by pioneers like Vitalik to become a fortress against corporate data exploitation and psychological manipulation; on the other hand, it has evolved into a financial asset attracting massive institutional capital.

When over 100,000 ETH are locked, is Ethereum fulfilling its sovereignty promise, or is it gradually being consumed by the very logic it opposes? The answer to this question may determine the future trajectory of this network.