<\/p>\n
The waitlist for Ethereum stakers seeking to exit the network has jumped to a record high as Celsius moves to unstake its ETH holdings.<\/p>\n
The\u00a0queue<\/a>\u00a0for stakers exiting Ethereum\u2019s consensus layer, the\u00a0Beacon Chain<\/a>, surged to a record high of\u00a016,283<\/a>\u00a0validators on Jan. 4 \u2014 significantly beating out its previously high of 3,829 from Dec. 4, according to Validator Queue.<\/p>\n The waitlist is projected to take five and a half days to clear. A maximum of 13 validators can offboard per epoch, with each epoch lasting roughly 6.4 minutes.<\/p>\n Analysts have attributed the move to Celsius, the\u00a0failed<\/a>\u00a0CeFi lender,\u00a0announcing<\/a>\u00a0it will unstake all of its existing Ether holdings on the same day. Celsius said it is in the process of recalling and rebalancing assets in preparation to distribute assets to creditors. In August, Celsius\u00a0said<\/a>\u00a0it plans to distribute nearly $2B worth of BTC and possibly ETH to creditors.<\/p>\n \u201cThe significant unstaking activity in the next few days will unlock ETH to ensure timely distributions to creditors,\u201d Celsius tweeted.<\/p>\n Celsius filed for bankruptcy in July 2022 after halting user withdrawals one month earlier. A July 2023\u00a0settlement<\/a>\u00a0with the U.S. Federal Trade Commission found that Celsius had misappropriated more than $4B worth of customer funds prior to suspending operations.<\/p>\n On Dec. 20, An Ape\u2019s Prologue, a web3 researcher,\u00a0tweeted<\/a>\u00a0that Celsius had sold $243M worth of Ether over 30 days.\u00a0Data<\/a>\u00a0from Arkham Intelligence suggests Celsius still holds $227M worth of ETH.<\/p>\n Despite the looming possibility that Celsius may move to liquidate the remainder of its sizable Ether holdings, many onlookers believe spot ETF speculation could soon drive gains for ETH.<\/p>\n With prominent analysts tipping that the U.S. Securities and Exchange Commission (SEC) may greenlight the first spot Bitcoin ETF next week<\/a>, an increasing number of researchers are turning their attention to Ether as the next likely candidate for spot ETF approval.<\/p>\n <\/p>\n Start for free<\/a><\/div>\n <\/p>\n \u201cExpect more spot Ethereum ETFs filings in the coming days,\u201d\u00a0tweeted<\/a>\u00a0James Seyffart, a Bloomberg analyst who expects the SEC to\u00a0approve\u00a0an initial cohort of spot Bitcoin ETFs sometime around Jan. 10.<\/p>\n During a webinar hosted by CryptoQuant on Jan. 4,\u00a0Eric Balchunas<\/a>, a fellow Bloomberg analyst, argued that the launch of\u00a0Ether futures ETFs<\/a>\u00a0in October implicitly treats ETH as a commodity and paves the way for a spot ETF to also receive approval.<\/p>\n \u201cBy approving those Ethereum futures ETFs, they\u2019re implicitly accepting those Ethereum futures as commodities futures,\u201d Balchunas said. \u201cIf they call Ethereum a security, it\u2019ll be going against their sister regulator, CFTC… That\u2019s why I think we could see potential Ethereum ETFs approved this year as well.\u201d<\/p>\n Satoshi Flipper, a popular trader and analyst, argued that Ether\u2019s current price does not reflect its spot ETF prospects.<\/p>\n \u201cNot even 1 cent of the proposed spot ETH ETF has been priced in yet,\u201d they\u00a0tweeted<\/a>. In my humble opinion\u2026 if the market was rational and forward-thinking, the price of ETH would shoot to $3,000 upon the spot BTC ETF approvals this week.\u201d<\/p>\n DCinvestor, a prominent investor and web3 influencer, shares the sentiment.<\/p>\n \u201cOnce the BTC ETF hits, literally everyone in the newly emergent \u2018TradFi crypto sector\u2019 will be looking at the fact that only one other asset has CME futures, a live futures ETF, has been referred to in the past as a \u2018commodity\u2019 by the CFTC and prior SEC chairs,\u201d they\u00a0tweeted<\/a>.\u00a0\u201cIt\u2019s ETH.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The waitlist for Ethereum stakers seeking to exit the network has jumped to a record high as Celsius moves to unstake its ETH holdings. The\u00a0queue\u00a0for stakers exiting Ethereum\u2019s consensus layer, the\u00a0Beacon Chain, surged to a record high of\u00a016,283\u00a0validators on Jan. 4 \u2014 significantly beating out its previously high of 3,829 from Dec. 4, according to […]<\/p>\n","protected":false},"author":2,"featured_media":224234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-224233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=224233"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224233\/revisions"}],"predecessor-version":[{"id":224236,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224233\/revisions\/224236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/224234"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=224233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=224233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=224233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ether ETF speculation runs rampant<\/h2>\n
\n