Ethereum holders are increasingly lining up to withdraw their staked ETH, with the exit queue reaching a record 855,158 ETH worth about $3.7 billion. This uptick in unstaking could exert significant sell pressure on the cryptocurrency, according to a Bitwise analyst. The Ethereum network has a limit on how much ETH can be unstaked simultaneously, designed to prevent large-scale exits that could disrupt its consensus mechanism. The current queue is expected to take about 15 days to clear. The analyst warned that a growing unstaked supply could lead to price declines if it overwhelms demand, particularly if staked ETH trades at a discount, which can trigger liquidations and further selling of ETH. Despite this potential downward pressure, he noted that unstaking does not usually cause sudden crashes. Ethereum’s recent price surge close to an all-time high was partly driven by market trends, while rising geopolitical uncertainty and economic data have contributed to its recent price retracement.

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