The Ethereum Foundation has begun large-scale $ETH unstaking.
Over the past 24 hours, EF has been consistently sending batches of 811.206 wstETH (around $2.3M per transaction) to Lido’s unstETH contract, repeating this process dozens of times and bringing the total unstaked value to approximately $48.9M.
This reflects a conversion flow from wstETH → stETH → ETH, raising questions about whether this ETH could soon turn into sell-side supply in the market.$ETH
ETH
2,259.16
+0.50%
XRP
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