Ethereum stakers are poised to withdraw 855,158 ETH, totaling approximately $3.7 billion, due to market uncertainty, which may exert significant sell pressure on the cryptocurrency. This amount represents the highest ever recorded in Ethereum's validator exit queue. While the Ethereum network limits the volume of ETH that can be unstaked at one time to maintain stability, the current situation could negatively impact ETH's price, particularly if staked ETH trades at a discount. The surge in unstaking follows Ethereum nearing its all-time high, leading to a price retracement influenced by geopolitical uncertainties and economic factors. Experts suggest that this increased supply might not immediately cause a price crash but may pressure prices lower if it surpasses demand. The analyst from Bitwise emphasized that if staked ETH's value diminishes, it could lead to further unwinding of leveraged positions, creating synchronized sell-offs in ETH.

Source 🔗