Why have so many people been bearish on Ethereum in recent days?
Those who are bearish on Ethereum have been looking at the data in the chart below these days.
12,880 ETH are waiting to be staked to become Ethereum validators, with a queue time of 5 days.
28,900 ETH are currently waiting to be unstaked, exiting their Ethereum validator status, with a wait time of 15 days and 11 hours.
🔴 Since Ethereum merged its mainnet with the Beacon Chain on September 15, 2022, completing the transition from Proof of Work (PoW) to Proof of Stake (PoS), it has officially bid farewell to the PoW mining mechanism and fully entered the PoS consensus mechanism.