Staking Ethereum decreases by 50%: Nearly 1 million ETH returning to the market – Is a large selling wave quietly forming?
#Ethereum is facing a concerning signal as staking demand has decreased by nearly 50% in 6 months. Data shows that net staking has dropped from 1.99 million ETH to about 1.01 million ETH, equivalent to nearly 986,000 ETH being withdrawn from locked status.
This means that a large amount of ETH is returning to circulation, increasing the supply that can be sold – a factor that often exerts downward pressure in the short term.
The situation is even more notable as many on-chain data points confirm increased supply pressure. The amount of ETH on exchanges has increased by an additional 345,500 ETH (+2.4%), indicating that capital is moving towards where it can be sold immediately. At the same time, whales have sold about 230,000 ETH in just 3 days – a sign that large investors are reducing their positions as prices rebound.
The paradox lies in the fact that despite the appearance of bullish divergence and ETH recovering from around 1,740 USD to nearly 1,970 USD, the increased supply could become a hindrance to the upward momentum.
On-chain cost price data indicates that more than 2% of the supply is concentrated around the 2,020–2,070 USD range – a large "sell wall." Without a sufficiently strong influx of new capital, ETH may be rejected in this area.
On the other hand, the important support level is at 1,890 USD. If this level is breached, the price could return to the near-bottom of 1,740 USD.
The decrease in staking may signal negative long-term confidence, but it is also possible that investors are withdrawing ETH to wait for trading opportunities or higher-yield DeFi.
