Ethereum's validator exit queue has reached a record 855,158 ETH, equivalent to approximately $3.7 billion. This significant accumulation of unstaked ETH could exert considerable sell pressure on the cryptocurrency, particularly as stakers may withdraw their tokens due to uncertain market conditions. The exit queue, which represents the amount of ETH that can be unstaked at any given time, is anticipated to take about 15 days to clear. The recent surge in Ethereum’s price has faced downward pressure from this mounting exit queue, causing a decline of over 3% recently after nearing an all-time high. According to Bitwise analyst Juan Leon, if staked ETH begins trading at a discount to ETH, it could further trigger risky financial maneuvers, such as liquidations that result in additional selling of spot ETH. Despite these concerns, Leon notes that while the increased supply from unstaking can pressure prices, it might not lead to a sudden crash under normal market conditions.

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