While rumors of an impending Ethereum sell-off have been circulating due to the high exit queue for unstaking, recent data reveals that this is primarily unfounded. The Ethereum staking entry queue has seen significant growth recently, reaching its highest level since 2023 at 787,255 ETH on Sunday ($3.4 billion). This surge coincides with Ethereum’s impressive price rally over the past two months, exceeding $4,500 and highlighting a growing bullish sentiment. 100-1,000 ETH holders are selling, but institutions and whales are buying up ETH as they accumulate in anticipation of future growth. The high entry queue reflects a strong shift towards staking rather than unstaking, suggesting an increased confidence in Ethereum’s long-term prospects despite some short-term price fluctuations.