Ethereum Price Tumbles, $2.2 Billion Staking Exit Queue Raises Liquidity Concerns
The Ethereum price has reached $2,702, a 2.7% decrease from its September high of $2,775.17. This price movement comes as 812,887 ETH sit in the staking exit queue, totaling $2.2 billion. The waiting time to exit staking is approximately 22 days, including a sweep delay of 7.6 days.
The Ethereum price has been trading within a narrow band between $2,397 and $2,775 for two weeks, a corridor of 16%. The 200-day line, a rough indicator of market direction, has been surpassed for 47 consecutive trading days. This suggests a market that is neither breaking out nor breaking down.
The staking exit queue has become a pressing concern for European investors who hold ETH in staking and want to remain able to act before the Glamsterdam upgrade on November 4. A sweep delay of 7.6 days adds to the total waiting time, making it a hard liquidity question for investors.