beincrypto.com
As capital continues to flow strongly into Ethereum in 2025—pushing its price above $3,600—the amount of $ETH queued for unstaking has also surged unexpectedly.
What could this mean for Ethereum’s price trend? Here are some expert insights.
Over 350,000 $ETH Waiting to Be Unstaked—What’s the Implication?
Udi Wertheimer, a prominent investor in the crypto community, raised concerns after discovering that more than 350,000 $ETH—worth approximately $1.3 billion—are currently waiting in the unstaking queue.
“There’s 350,000 $ETH queued up to unstake. About $1.3 billion. The last time that much $ETH was being unstaked was in January 2024, following a 25% rally in $ETH/BTC in a single week. [price] went down only from there,” Udi Wertheimer said.
Unstaking allows users to withdraw their $ETH from staking smart contracts, turning it back into freely usable assets.
A large wave of unstaking could signal potential selling pressure. This is especially true if investors are looking to take profits after $ETH’s 160% rally since its April lows.
Earlier in 2024, more than 500,000 $ETH were unstaked before $ETH surged from $2,100 to over $4,000, and later dropped back to $2,100.
Where Might This Unstaked $ETH Go?
Viktor Bunin, OG Protocol Specialist at Coinbase, suggested that this $ETH might be moved into internal treasury funds. These funds could serve financial strategies like long-term investment or portfolio diversification.
If that’s the case, this isn’t a sign of panic selling—it’s more likely a form of asset management. This could actually help stabilize the market in the long term.
Meanwhile, a report from Lookonchain shows that on-chain data indicates around 23 whales or institutions have accumulated 681,103 $ETH (worth $2.57 billion) since July 1.
And the accumulation hasn’t stopped. In the fourth week of July, more institutions continued to add billions of dollars worth of $ETH.
“The new $ETH treasury—The Ether Machine—announced $1.5 billion in $ETH this morning. That’d be the biggest yet. But then last week, Tom Lee from Fundstrat Capital said he was going to buy $20 billion in $ETH, and Joseph Lubin said he was in for at least another $5 billion. I have no idea who’ll end up as the biggest. But I do know this—there’s not enough $ETH to go around,” crypto investor Ryan Sean Adams said.
What About $ETH Being Staked?
Udi Wertheimer’s concern may sound alarming, especially when compared to historical patterns. However, it lacks a key perspective: the amount of $ETH currently waiting to be staked.
Data from ValidatorQueue shows that the $ETH queued for staking actually far exceeds the amount queued for unstaking. Since June, this queue has surged, with over 450,000 $ETH waiting to be staked on certain days.
This reflects continued investor interest in participating in the Ethereum network through staking.
“Also, there’s a healthy amount of $ETH queued up for staking at this time,” Wertheimer added.
Data from beaconcha.in shows that over 35.7 million $ETH is currently staked across various protocols. This accounts for 29.5% of the circulating supply.
Ultimately, the balance between $ETH entering and leaving staking protocols is a critical factor. It helps determine whether the market is facing real selling pressure or simply witnessing strategic reallocation by institutions and individual investors.