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Number of ETH waiting to enter staking exceeds 1 million as ETH exiting Ethereum PoS network drops to 80,000 coins
Summary: According to on-chain analyst Yu Jin, in mid-September, when ETH price surged to near this year's peak of $4,700, a total of 2.66 million ETH chose to exit staking. After three and a half months of digestion, the number of ETH waiting to exit staking has now been reduced to just 80,000 coins. The 2.6 ...
According to on-chain analyst Yu Jin, in mid-September, when ETH price surged to near this year's peak of $4,700, a total of 2.66 million ETH chose to exit staking. After three and a half months of digestion, the number of ETH waiting to exit staking has now been reduced to just 80,000 coins. The 2.6 million ETH exiting staking caused a 34% drop in ETH price: from $4,700 in mid-September to the current $3,100.
The current situation is quite the opposite, with the number of ETH waiting to enter staking far exceeding those exiting: Bitmine (BMNR), an Ethereum treasury company, has recently staked a large amount of ETH (depositing 593,152 coins in the last 8 days), resulting in over 1 million ETH waiting in line to enter staking.
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Link: Number of ETH waiting to enter staking exceeds 1 million as ETH exiting Ethereum PoS network drops to 80,000 coins [Copy]
