Ethereum Exit Queue Don Pass 800K ETH, 14-Day Unstaking Wait
Ethereum Exit Queue don surge reach record 808,880 ETH wey don lock for unstaking, wey don cause 14 days delay. Di entry queue get 374,136 ETH wey get 6 days wait. Traders talk say di rise for Ethereum Exit Queue and di delay for unstaking be because profit-taking as price dey near all-time high, Justin Sun withdraw $600 million worth ETH from Aave, and Lido stETH loop unwind after 0.3% depeg. High borrowing cost and deleveraging on liquid staking tokens like stETH still dey push more exits. Meanwhile, SEC decision for May say staking tokens no be securities don make people get hope for ETH staking ETFs. Short-term network congestion fit increase selling pressure, but possible ETF launch fit help support long-term staking demand. Traders suppose dey observe Ethereum Exit Queue, DeFi liquidity shifts, and ETF developments to sabi market liquidity and price trends.
Neutral
For short term, de record-high Ethereum Exit Queue and di 14-day unstaking delays dey show say traders dey sell plenty as dem dey unwind leveraged staked positions and collect profits at near-all-time high prices. Dis backlog fit put small pressure for ETH liquidity and price for short time. For long term, di SEC ruling on staking tokens plus di growing expectation for ETH staking ETFs fit bring in institutional capital and boost staking demand. Changes for DeFi liquidity and ETF developments go likely shape wetin go happen for market. Overall, opposing forces mean say impact for Ethereum price go neutral.