#ETH Trading Volume Surges Users on Ethereum are unstaking their ETH in unusual numbers! What does this mean, and what is the reason? Cathie Wood commented.

The famous CEO Cathie Wood recently commented on the unstaking operations happening on the Ethereum network.
Commented on the reasons.
Recently, the unbonding of staked assets on the Ethereum network has reached a record level.
Cathie Wood, CEO of ARK Invest, stated that the sudden request to unstake may be due to a 2% cryptocurrency transfer reward offered by a certain exchange.
Wood, in response to the question about the "sudden increase in demand for Ethereum unstaking," stated, "Borsq offers a 2% matching reward for cryptocurrency transfers. Therefore, venture capitalists and other investors will transfer their staked ETH, which is coming to the end of its lock-up period, to a company known as the digital asset pool (DAT to enhance their funds." Wood added that these companies operate similarly to MicroStrategy )MSTR( and Bitmine )BMNR(, with brokerage advisors providing clients with investments in BTC and ETH through these stocks.
In the Ethereum network, this large-scale unstaking action carried out by validators and long-term investors has surpassed the withdrawal wave triggered by Celsius in January 2024. According to on-chain data, approximately 693,000 ETH, valued at 2.6 billion dollars, are queued for withdrawal. This is recorded as the largest wave of unstaking since the launch of Ethereum's staking mechanism.
Due to the high volume of withdrawal requests, the withdrawal queue time has been extended to 12 days. However, the number of ETH waiting to be staked remains at 296,000 ETH; this indicates that the demand for restaking is very low.
According to the staking service provider Everstake, validators perform unstaking operations not only for sale but also according to strategies such as re-staking and yield optimization. ARK Invest's CEO Wood stated that part of these unstaking operations is related to institutional investors reallocating their staked ETH to digital asset financial companies like SharpLink Gaming and Bitmine Technologies.
Not investment advice