Ethereum Staking Withdrawal Queue Hits All-Time High

Market Status

• Ethereum price $4,259.11, down 3.15% in 24 hours

• Staking withdrawal queue reaches 873,682 ETH (approximately $3.884 billion), an all-time high

• Withdrawal waiting time extended to 12 days and 5 hours, up 68% since July

• BNB price $856.38, market correlation stable

Causes of Selling Pressure

• Arbitrage mechanism hindered: Aave platform's ETH borrowing rate has exceeded staking yield, breaking the 'circular staking' model

• Market structure changes: Lido's market share has dropped to 24.4%, with new service providers like Figment adding 344,000 ETH in monthly staking

• Concentrated release of liquidity demand: validator withdrawal applications accumulate rapidly, converting into actual selling pressure

Trading Strategy

• Focus on the $4,300 key support level, with BlackRock's position forming a $4,365 'implicit support'

• Risk control: Two failed breakouts above $4,500 have triggered about $240 million in long liquidations, recommend keeping leverage within 3:1

• Opportunity point: If the price maintains above $4,000, pay attention to rebounds brought by the inflow of new stablecoins $BTC $ETH #主流币轮动上涨 #加密市场回调