Ethereum

Token

Coin

<ul class="wp-block-list news-points"> 
 <li>Over 356,000 ETH (~$870M) pending, signaling potential sell pressure.</li> 
 <li>ETH price declined 3.74%, which is linked to significant recent unlocks.</li> 
 <li>Positive inflows continue, but concerns over sustained sell-offs persist.</li> 
</ul> 
Ethereum is currently facing a significant surge in withdrawals, with around 143,000 ETH—valued at approximately $350 million—set to become available within 12 hours. Additionally, 212,000 ETH, including rewards from validators exiting the network, is scheduled for withdrawal soon. According to <a href="https://x.com/Token_Unlocks/status/1821485043136766208" target="_blank" rel="nofollow">Token Unlocks</a>, a total of 356,570 ETH, worth approximately $870 million, is pending withdrawal. 
If these withdrawals are processed, this could signal potential sell pressure on Ethereum. The next 12 hours are expected to see the withdrawal of roughly 142,460 ETH, valued at $346 million. This movement suggests a significant outflow from staking, with the current ETH price at $2,436.81 reflecting a 3.74% decline. Besides, the staking APR has decreased by 12.56%, now at 3.30%, indicating lower participant rewards. 
Ethereum has recently experienced a substantial increase in staking activities, with a net balance rise of 108.18%, amounting to 15,260 ETH,…
The post <a href="https://coinedition.com/ethereum-price-slides-as-870m-in-withdrawals-loom/">Ethereum Price Slides as $870M in Withdrawals Loom</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Ethereum Price Slides as $870M in Withdrawals Loom

Coin Edition

Other articles published on Aug 10, 2024

Crypto Updates: Solana Fix, Dark Skippy, Hong Kong Reform

Charles Hoskinson Fears a Collapse of the US Crypto Industry Under President Harris

Bitcoin New Addresses Soar: Retail Investors Fuel Crypto Revival

Rollblock Continues To See Increasing Volume As Experts Predict 200x Run; MATIC and FET Falter

Explore the 88% APY Offer in the Best Crypto Presale Platform Along with Axie Infinity's Homeland...

Bitcoin Dominance Skyrockets to 3-Year High as BTC Maintains $60K (Weekend Watch)

Join our free newsletter for daily crypto updates!