Nearly $3.8 billion USD in ETH waiting to unstake as Ethereum price approaches previous peak

According to data from #beaconchain , a large amount of Ethereum (ETH), with a total value of about $3.8 billion, is currently in the queue to exit from validators. This amount of ETH has surged to 719,567 ETH, indicating a strong increase in withdrawal pressure as the price of ETH approaches its historical peak.

Reasons for the unstaking wave

Analyst @DefiIgnas pointed out three main reasons:

Reduced leverage: High borrowing costs and funding have led many investors to reduce leverage in staking loops.

Position restructuring: Validators may be restructuring their positions in preparation for new staking products in the U.S., after the SEC confirmed that staking does not violate securities regulations.

Profit-taking: With the current price of $ETH being high (around $4,780), many validators simply want to withdraw staked ETH to take profits.

Complex market movements

This wave of ETH withdrawals occurs simultaneously with strong inflows into ETH spot ETF funds, indicating a divergence in investor sentiment. The unstake queue can be seen as a "safety valve" to prevent too rapid a capital withdrawal. Although withdrawing ETH does not necessarily mean immediate selling, it reflects a trend of risk reduction and leverage management in the staking ecosystem. This suggests that the market is in a correction phase, but there is still strong demand from institutions. #anhbacong