An ETH supply-demand strategy often overlooked: look at the direction of the staking queues—not just the nominal amount of withdrawals. A whale withdrew 523,000 ETH, but there was no sign that staked coins were stolen. That means the nearly 45-day waiting period was almost entirely about re-queuing and re-entry, and the exit channel wasn’t blocked.
This suggests staking demand is still quite tight. The actual sell pressure released into market circulation is far smaller than the headline numbers. Compared with the current price of 2704, ETH rose only 0.5% over the past 24 hours. There was no dumping prompted by fear of a massive withdrawal. This indicates the queue mechanism is already reflected in the price.
Key things to watch: when the exit queue is short and the entry queue is long, the available supply that ETH can be sold against is limited. The 2700 area looks more like an accumulation zone than a distribution zone. #ETH
This suggests staking demand is still quite tight. The actual sell pressure released into market circulation is far smaller than the headline numbers. Compared with the current price of 2704, ETH rose only 0.5% over the past 24 hours. There was no dumping prompted by fear of a massive withdrawal. This indicates the queue mechanism is already reflected in the price.
Key things to watch: when the exit queue is short and the entry queue is long, the available supply that ETH can be sold against is limited. The 2700 area looks more like an accumulation zone than a distribution zone. #ETH