This article proposes the theory of national sovereignty for Ethereum, arguing that its long-term value lies not only in its technical characteristics as a decentralized platform, but also in its potential as a global financial system infrastructure. The article points out that as Ethereum gradually becomes the foundational layer for global financial transactions and applications, the consensus mechanism that controls the Ethereum network will be equivalent to controlling the global financial system. Main viewpoint: The impact of Proof of Stake (PoS) mechanism: Under the PoS mechanism, validators need to hold and pledge a certain amount of ETH to participate in network consensus. Entities holding more ETH can run more verification nodes, thereby having greater influence in the network. If an entity or alliance holds more than 51% of the pledged ETH, they will be able to have a significant impact on the verification and ranking of online transactions, and may even carry out double spending attacks or force hard forks. 2. Layer 2 (L2) expansion plan and value accumulation: The L2 solution improves transaction speed and reduces costs by transferring transactions from the main chain, but ultimately still relies on the security of the Ethereum mainnet. Therefore, the increase in total locked value (TVL) on L2 will also enhance the economic value of the main network, as the security of the main network is crucial for protecting these values. 3. The Geopolitical Significance of Ethereum: The article predicts that as the importance of Ethereum in the global financial system increases, countries and large financial institutions will begin to compete for control over ETH. For example, asset management companies may gain network influence by launching Ethereum exchange traded funds (ETFs) and pledging ETH within them. Meanwhile, sovereign states may accumulate ETH through direct purchases or other means to ensure a favorable position in the future global financial system. 4. Ethereum's long-term value proposition: The article emphasizes that the long-term value of Ethereum should not be seen solely as a source of income or a deflationary currency, but rather as a symbol of power. Just as the US dollar has dominated the global financial system over the past few decades, ETH has the potential to become a core asset in the future global financial system. Conclusion: The article believes that controlling the distribution and staking of ETH will become an important component of the future global power structure. As Ethereum plays an increasingly important role in the global financial system, countries and institutions will compete to acquire ETH to ensure dominance in the new financial order. Therefore, ETH is not only a cryptocurrency, but also a key element in the future global power game.