A cryptocurrency expert pointed out that more and more Ethereum holders are queuing up to withdraw their tokens from staking, a trend that could pose a significant selling pressure on the ETH price. According to validatorqueue.com data, the validator exit queue for the Ethereum blockchain reached a record 855,158 ETH on Friday. The total value of these tokens was around $3.70 billion as of Friday evening, according to CoinGecko.
Juan Leon, senior investment strategist at Bitwise, said that the growing backlog of ETH that is about to be unstaked could be one of the reasons for the asset's recent pullback. The second-largest crypto asset by market cap has fallen by hundreds of dollars in the past few days, just one step away from a new all-time high. He explained that the queue of ETH that is unstaked could have a negative impact on the price of ETH, especially when the staked ETH is trading at a discount to the ETH itself.
Analyst: Billions of dollars worth of Ethereum are queuing up to be unstaked, which could bring selling pressure to ETH
2025-08-18 03:19:09
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