As of press time, 698,575 ETH (roughly $3.28 billion) are queued for withdrawal, while only 105,000 ETH, valued at about $472 million, are currently entering the network.
Considering this, he attributed the surge in withdrawals from these platforms to unwinding leveraged ETH positions to capture higher yields.
In addition, profit-taking could be another factor behind the exit wave. Long-term stakers may be taking advantage of Ethereum’s recent price rally to withdraw funds from the staking program and realize gains.
