Analyst: Billions of dollars worth of Ethereum are queued to be unstaked, which may put selling pressure on ETH.

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Golden Finance reported that a crypto assets expert pointed out that an increasing number of Ethereum holders are lining up to withdraw their tokens from staking, a trend that may exert significant selling pressure on the ETH price. According to data from validatorqueue.com, the exit queue for validators on the Ethereum blockchain reached a record 855,158 ETH on Friday. Data from CoinGecko shows that as of Friday evening, the total value of these tokens was approximately 3.7 billion dollars. Bitwise senior investment strategist Juan Leon stated that the queue of ETH that is about to be unstaked is continuously piling up, which may be one of the reasons for the recent pullback of the asset. The second largest crypto asset by market capitalization has dropped several hundred dollars in the past few days after being just a step away from refreshing its historical high. He explained that the queue of ETH waiting to be unstaked could have a negative impact on the ETH price, especially when the trading price of staked ETH appears to be at a discount relative to ETH itself.

ETH-2.29%
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