Ethereum validators exit queue hits new high, ETH may face selling pressure

[Golden Finance] According to reports, the number of validators exiting the Ethereum Blockchain queue reached 855,158 ETH on Friday, setting a new historical high. A senior investment strategist at an asset management company stated that the increasing amount of ETH about to be unstaked may be a reason for the recent pullback of this asset. The un-staked Ethereum queue typically has a negative impact on ETH prices, which could lead to significant market dumping pressure. This is because staked tokens like stETH can trade at a discount, and the discount can decrease the value of Collateral, triggering risk reduction, hedging, or even liquidation, ultimately resulting in ETH spot dumping. Leveraged "stETH loop" trading conducted through DeFi protocols' liquidity pools will no longer be profitable, and traders create synchronized dumping pressure by closing positions and selling ETH to repay loans.