Ethereum has pulled back from its recent attempt to capture its ATH level due to macroeconomic conditions and regulatory uncertainty that show the US government may not be as keen on BTC as expected. However, further bearish news is here as ValidatorQueue has revealed that $3.8 billion worth of staked ETH is up for withdrawal.
In hindsight, it has all the makings of the emergence of profit takers, and if they arrive the ETH price could suffer. However, one expert has said that this doesn’t matter and could work bullishly in ETH’s favor. This has led people to scrounge the internet, yet again, to find another best crypto to buy now.
ETFs Could Absorb the Selling Pressure Caused by Unstaked Ethereum
The fears around the unstaking of Ethereum are genuine, since this is often a prelude to the rise of those who want to take profits. However, according to DeFi analyst Ignas, all is not lost since ETFs could absorb the selling pressure.
7/ And the absolute obvious one:
Pro
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