A growing queue to unstake Ethereum (ETH) could increase sell pressure on the cryptocurrency, according to a Bitwise analyst. The validator exit queue hit a record of 855,158 ETH, valued at approximately $3.7 billion. This trend has emerged as stakers seek to withdraw amid uncertain market conditions, potentially leading to a sell-off. The Ethereum network limits the amount of ETH that can be unstaked simultaneously to ensure stability, with the current queue expected to take around 15 days to clear. As the queue grows, it might trigger sell pressure, especially if staked ETH trades at a discount to ETH. This dynamic could lead to forced selling to cover losses in leveraged trades, particularly if the cost to borrow ETH rises. Despite these concerns, the analyst noted that an increase in queued ETH does not necessarily mean a severe price drop for ETH but could reduce upward price momentum if it outpaces demand.

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