The "Exodus Tide" Behind ETH Staking Hides a Fatal BUG in the PoS Ecosystem
The Ethereum PoS network's exit queue has surged to 700,000 ETH, while the entry volume is only 223,000 ETH — this is not ordinary selling pressure, but a bleeding trust fracture within the staking ecosystem!
As an analyst deeply engaged in on-chain data, I can assert that this wave of withdrawals contains three collapse signals
Yield collapse, annualized staking returns have plummeted from 10% during the bull market to 4%; when ETH is stagnant, the myth of easy profits completely fails. Liquidity backlash, liquid staking like stETH allows funds to escape at any time, and institutions are no longer stubbornly sticking to PoS.
Expectation reversal, a large number of stakers anticipate short-term regulatory pressure on ETH and the drag from BTC, queuing up to escape the peak to avoid a crash.
The impact on the market is even more fatal; the potential selling pressure of 700,000 ETH in the short term will continue to strangle the bulls, locking up ETH's rebound space.
In the long term, even if the staking rate remains safe, signals of shaken consensus will accelerate the flight of funds, undermining the foundation of PoS.
What is even more frightening is that this exposes the fatal soft spot of the PoS mechanism; when yields cannot support patience, the collective withdrawal of stakers may trigger a panic sale, dragging the market into the abyss!
The key question now is, is the exit of 700,000 ETH a prelude to a crash or a bottom-fishing opportunity?
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