【Bitwise Analyst: The Increasing Amount of ETH Set to Be Unstaked May Bring Significant Selling Pressure to the Market】 According to Jinse Finance, the validator exit queue on the Ethereum blockchain reached 855,158 ETH on Friday, setting a new historical record. Bitwise Senior Investment Strategist Juan Leon stated that the increasing amount of ETH set to be unstaked may be a reason for the recent pullback of this asset. The unstaked Ethereum queue generally has a negative impact on ETH prices and may also bring significant selling pressure to the market, as staked tokens like stETH can be traded at a discount. This discount reduces the value of collateral, leading to risk reduction, hedging, or even liquidation, ultimately resulting in ETH spot selling. Leveraged 'stETH loop' trades conducted through DeFi protocol liquidity pools will no longer be profitable, and traders creating synchronous selling pressure by closing positions and selling ETH to repay loans.
