Ethereum is facing potential sell pressure as a record number of tokens are queued to be unstaked, according to analysts. As of Friday, the validator exit queue for ETH reached 855,158 ETH, valued at approximately $3.7 billion. This surge in unstaking requests comes amidst a recent decline in ETH's price, which dipped over 3% recently after nearing an all-time high. Analysts suggest that as stakers withdraw their tokens, it could lead to a sustained downward pressure on prices, especially if unstaked ETH trades at a discount. The network’s restrictions on the amount of ETH that can be unstaked simultaneously are in place to prevent disruption, though the current wait time to clear the queue is about 15 days. Experts warn that an influx of unstaked ETH might maintain selling pressure if it exceeds demand, which might cause broader impacts on the market, affecting positions reliant on borrowed ETH. Despite these concerns, it is noted that unstaking typically does not lead to abrupt crashes but can contribute to ongoing market supply dynamics.

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