Analyst: Billions of dollars worth of Ethereum are waiting in line to be unstaked, which may bring selling pressure on ETH

08/18 03:26

a cryptocurrency expert pointed out that more and more Ethereum holders are queuing up to withdraw tokens from staking, a trend that could exert significant selling pressure on ETH prices. According to data from validatorqueue.com, the number of Ethereum blockchain validators exiting the queue reached a record 855,158 ETH on Friday. Data from CoinGecko shows that as of Friday night, these tokens were worth approximately $3.7 billion. Bitwise's Senior Investment Strategist Juan Leon said that the growing queue of ETH about to be unstaked may be one of the reasons for the recent pullback in the asset. The second largest cryptocurrency by market capitalization has dropped several hundred dollars in the past few days after being on the brink of hitting a new all-time high. He explained that the queue of ETH waiting to be unstaked may have a negative impact on ETH prices, especially when the staked ETH is trading at a discount relative to ETH itself.
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