Ethereum Price Reversal: Unstaking Activity Fuels 10% Drop

Ethereum’s price, which soared to its highest point in four years at $4,788 last Thursday, has since experienced a steep correction. After almost doubling its value in just two weeks, ETH now trades around $4,260, dropping by 10%. This reversal is primarily attributed to an influx of unstaking activity, with the queue for validators increasing significantly, exceeding 40 days from an average timeframe of only two to three days.