Ethereum strikers want to cash en masse: what does that do with the course?

After almost achieving a new all-time high, Ethereum (ETH) undergoes a slight correction in recent days. Not crazy after the huge rally of the digital currency.

The impressive performance of the past few days also ensures that many owners want to take a profit and their stuck tokens are unstoppers. And that leads to unprecedented long waiting times.

Lido leads Unstopgolf from Ethereum

According to data from the Validatorqueuee, the Ethereum Unstopy Queue has reached a record high of 877.106 ETH. This amounts to a substantial amount of approximately $ 3.8 billion. The waiting time has therefore risen to no less than 15 days.

The massive unstopes is the result of profit -made profit by large liquid strike platforms. The largest contribution comes from Lido. It leads the list of 285,000 ETH in the queue, followed by Ethfi with 134,000 ETH and Coinbase with 113,000 ETH.

The Unstakes has increased considerably since mid -July. This is almost the same as the explosive growth of the ETH course. During July the digital currency rose from around $ 2,400 to a local peak of almost $ 4,800 in mid -August. It comes down to an impressive increase of approximately 100 percent.

What is a strike and liquid strike?

Staking means that you secure Ethereum (ETH) in the network in order to contribute to validating transactions and securing the blockchain. In exchange you will receive strike rewards-similar to interest. But: as long as your ETH is staked, you can’t reach it. Unstakes takes time, as it becomes painfully clear.

At Liquid STACK you will receive a ‘liquid token’ in exchange for your staked ETH that represents the value of your bet. You can trade this token freely or bet in other Defi applications. This way you continue to earn strike rewards, but you also keep direct access to your capital.

ETH CONTRUCTION

There is a record quantity Ethereum (ETH) ready to be released via the Unstopy Queue. As soon as these coins are released, it can ensure considerable sales pressure on the market. Because the process is spread over a period of about fifteen days, that pressure can also remain felt for a longer period of time.

Billions of Battle of ETH great powers burst loose

Despite that threat, interest from large investors remains remarkably strong. That institutional question could possibly receive the sales pressure. In the meantime, a fierce struggle is raging between so-called Ethereum reserve companies: parties that manage huge amounts of ETH.

Bitmine is currently leading the ranking with a stock of almost 1.2 million ETH. The company even wants to raise $ 20 billion in new capital. If that financing round succeeds, it can push the buying pressure considerably.

Opponent Sharplink Gaming Aast at the leading position. The company now owns more than 728,000 ETH and has announced that it wants to knock Bitmine off the throne. However, it will have to purchase a lot for that.