Why is ETH considered a high-risk asset when ETH staking is near ATH?

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Why is ETH considered a high-risk asset when ETH staking is near ATH?

Ethereum's Economic Security comes from the amount of ETH staked. Despite ETH's horrible price performance, the amount of staked ETH seems to be increasing – back above 34 million ETH.

Why is it considered a high risk asset? I know the price performance is one indicator, but that's because people are labelling it high risk. It does not have to be high risk if you don't make it high risk. Just curious. Because the ETH fundamentals appears to be great. Is this just market manipulation to try and suppress ETH for whatever reason?

https://beaconcha.in/charts/staked_ether

submitted by /u/Numerous_Ruin_4947
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