Summary
- It was reported that currently 350,000 Ethereum (ETH) are registered in the unstaking queue.
- Concerns were raised that the price of ETH also dropped after large-scale unstaking in January last year.
- Large-scale unstaking may indicate a potential increase in selling pressure and moves to realize profits.
A large amount of Ethereum (ETH) has been registered in the unstaking queue, which could increase selling pressure, according to analysis.
On the 22nd (local time), BeInCrypto reported that crypto analyst Woody Wertheimer stated, "Currently, 350,000 ETH (approximately $1.3 billion) is waiting to be unstaked." He continued, "This is the first time since January last year that such a large amount of Ethereum is being unstaked," adding, "At that time, Ethereum showed a downward trend after the unstaking event."
In fact, right after about 500,000 ETH was unstaked in January last year, Ethereum surged to $4,000, then declined to the $2,100 level.
The media outlet noted, "Large-scale unstaking may indicate a potential increase in selling pressure." It also said, "Especially since Ethereum has risen more than 160% from its low in April, more investors may move to realize their profits."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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