🚨 Ethereum Exit Queue Hits Record High! 🚨
Bitwise Senior Investment Strategist Juan Leon has raised concerns over Ethereum’s latest pullback. On Friday, the validator exit queue surged to 855,158 ETH, marking an all-time high.
🔻 Why it matters:
Unstaking Pressure: Large volumes of ETH awaiting withdrawal could fuel further selling pressure.
$stETH Discounts: When staked ETH derivatives trade below par, collateral values shrink, triggering risk management, hedging, or even liquidations.
DeFi Loop Unwind: Leveraged "$stETH loop" trades are turning unprofitable, forcing traders to repay loans and sell ETH, creating synchronous selling waves.
👉 Market watchers are now eyeing the exit queue dynamics as a key short-term driver for $ETH price action.
⚡ Will this sell-side wave drag ETH lower, or can the bulls absorb the pressure?
DYOR No Financial advice!
#ETH #Bitwise #MarketTurbulence #CryptoIntegration #Write2Earn