Ethereum Exit Queue Tops 800K ETH, 14-Day Unstaking Wait
Ethereum Exit Queue has surged to a record 808,880 ETH locked for unstaking, creating a 14-day delay. The entry queue holds 374,136 ETH with a 6-day wait. Traders attribute the rise in Ethereum Exit Queue and unstaking delays to profit-taking at near-all-time-high prices, Justin Sun’s $600 million ETH withdrawal from Aave, and the unwind of Lido’s stETH loop after a 0.3% depeg. Higher borrowing costs and deleveraging on liquid staking tokens like stETH have further fuelled exits. Meanwhile, a May SEC ruling that staking tokens are not securities has heightened expectations for ETH staking ETFs. Short-term network congestion may increase selling pressure, while potential ETF launches could support long-term staking demand. Traders should monitor the Ethereum Exit Queue, DeFi liquidity shifts, and ETF developments to gauge market liquidity and price trends.
Neutral
Short term, record-high Ethereum Exit Queue and 14-day unstaking delays signal mounting selling pressure as traders unwind leveraged staked positions and take profits at near-ATH prices. The backlog may temporarily weigh on ETH liquidity and price. Long term, the SEC’s ruling on staking tokens and growing expectations for ETH staking ETFs could attract institutional capital and bolster staking demand. DeFi liquidity shifts and ETF developments will likely shape future market dynamics. Overall, opposing forces suggest a neutral impact on Ethereum’s price trajectory.