The cryptocurrency market fell nearly 4% on Monday, escalating concerns over a surge in Ethereum (ETH) uncertainty. On-chain data shows 1.18 million ETHs are queued for their withdrawal, the biggest backlog in months.
The delay highlights the pressure on the Ethereum Network. Staking usually takes 3-5 days. Current applicants can last up to 40 days.
ETH stake surge ≠ sales pressure
Staking does not automatically mean selling. Many holders can maintain their ETH, waiting for higher prices and debt opportunities. Data from Dune Analytics shows that there is no strong link between staking volume and ETH price over the last 45 days.
However, if withdrawn, ETH will move to exchanges and prices will often continue to decline.
(ETH staking flow metrics for the last 45 days. Source: Dune Analytics)
On August 19th, a large influx into Binance coincided with a 5% ETH drop. That same day, the Nasdaq fell 1.46% in fear of delays in the Federal Reserve cuts.
About 115,000 ETH will end their staking daily this week, according to on-chain data. At current prices it is almost $4,600, which is equivalent to $529 million a day.
This amount adds uncertainty as the market remains sensitive to macroeconomic changes. Combined with negative news that is not too heavy can drive sharp price fluctuations.
(Daily ETH withdrawal from queue is predicted
. Source: Dune Analytics)
Some market voices claim that fear is exaggerated. Some investors compared this situation with Solana. Solana faced similar fears after her FTX-related uncertainty.
Meanwhile, the encrypted data highlighted that the centralized exchange ETH supply has fallen to a low value. Only the remaining 18.3 million ETH remains, reducing immediate selling pressure.
The amount of $eth on the exchange is the lowest ever.
$18.3 million in ETH remains on the exchange.
You don’t need to complete your degree to understand what will happen. pic.twitter.com/ehscrrww5h
– Lark Davis (@thecryptolark) August 23, 2025
While the flow without staking remains large, its impact depends on the transfer of exchanges and the broader economic situation. Analysts warn that ETH withdrawals alone are unlikely to cause sustained divestment without external market shocks.
Overall, the record Ethereum staking backlog highlights an increase in investor activity, but its impact on the market remains uncertain.
Although billions of ETH are set to release, the exchange flow and global economic trends determine whether surges will ultimately be converted into sales pressure or simply reflect a mature network.
This post doesn’t highlight Ethereum staking as Crypto’s market capitalization first appeared on Beincrypto.
