Ethereum stakers are increasingly looking to withdraw their tokens, as the validator exit queue hit a record 855,158 ETH, worth approximately $3.7 billion. This unprecedented backlog could introduce significant sell pressure on the cryptocurrency, impacting its recent price surge. Analysts suggest that while unstaking doesn’t typically trigger sudden price drops, it could create a steady increase in supply that overwhelms new demand, thereby pressuring prices lower. The recent Ethereum rally has been attributed to various factors, including regulatory changes and scarcity dynamics, but rising geopolitical uncertainties may influence market behavior. Staked ETH can also trade at a discount, potentially triggering liquidations on leveraged trades, compounding the market's volatility. So far, the Ethereum price has suffered slight declines, notably after nearing its all-time highs, drawing concern that continued efforts to unstake could further destabilize the price. Nevertheless, experts caution that an increasing unstaked queue isn't an immediate signal for a price collapse, though it remains a factor to watch closely.

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