PANews August 17 news, according to Decrypt, the Ethereum blockchain validator exit queue reached 855,158 ETH this Friday, setting a new record. Bitwise senior investment strategist Juan Leon stated that the increasing amount of ETH about to be unstaked may be a reason for the recent pullback of the asset. The un-staked Ethereum queue typically exerts a negative impact on ETH prices and may lead to significant market sell-off pressure, as staked tokens like stETH can be traded at a discount. This discount reduces the collateral value, triggering risk reduction, hedging, or even liquidation, ultimately resulting in ETH spot sell-off. Leveraged 'stETH loop' trading conducted through DeFi protocol liquidity pools will no longer be profitable, and traders creating synchronized sell-off pressure by closing positions and selling ETH to repay loans.

#ETH