A growing queue for unstaking Ethereum (ETH) could negatively impact its price, according to Bitwise Senior Investment Strategist Juan Leon. The validator exit queue recently reached 855,158 ETH, valued at approximately $3.7 billion, marking a record high. This surge in unstaking requests may indicate that investors are seeking to cash out amid market volatility. The Ethereum network restricts how much ETH can be unstaked simultaneously to maintain stability. Currently, the clearance of the queue is expected to take about 15 days. Analysts believe that if staked ETH tokens, such as stETH, trade at a discount, it could trigger widespread sell-offs and negatively affect ETH's market price. The current sell pressure follows recent price fluctuations and geopolitical uncertainties. While the validation exit queue does not necessarily imply an imminent market crash, it poses risks of sustained declines if new demand cannot absorb the increased supply of ETH.

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