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Ethereum (ETH) staking pending volume again surpasses unstaking pending volume after about 6 months

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JH Kim
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  • It reported that on the Ethereum (ETH) network staking pending volume has again surpassed unstaking pending volume after about six months.
  • This change suggests that new validator participation demand is increasing faster than pending withdrawal volume.
  • The market interprets an increase in staking pending volume as a strengthening of long-term holding and willingness to participate in the network, but says further observation is needed regarding short-term price impact.
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On the Ethereum (ETH) network, staking pending volume has again surpassed unstaking pending volume. Staking demand is exceeding redemption demand, bringing a change in network participation flows.

On the 29th (local time), according to Cointelegraph, a crypto asset (cryptocurrency) specialized media, staking pending volume was about 745,619 ETH. Meanwhile, unstaking pending volume stood at around 360,528 ETH.

It is the first time in about six months that staking pending volume has exceeded unstaking pending volume. This means new demand to participate as Ethereum validators is increasing faster than pending withdrawals.

Since Ethereum's transition to proof-of-stake (PoS), staking participation volume and pending withdrawal volume have been used as indicators of market sentiment. An increase in staking pending volume suggests that long-term holding and willingness to participate in the network are strengthening.

There have been past cases where Ethereum's price showed an upward trend after a similar flow appeared. However, some in the market say further observation is needed to determine whether increased staking demand directly leads to short-term price movements.

Currently, validator participation and withdrawal demand are being maintained simultaneously on the Ethereum network, and staking-related indicators are being noted as key elements for gauging future supply-demand conditions.

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JH Kim

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