As ETH price rebounds and breaks through $3,800 before falling back above $3,500, ETH has officially entered the "moment of holders calling each other SB" - on one hand, institutions and listed companies continue to increase their ETH holdings, either waiting for price appreciation or establishing strategic reserves; on the other hand, ETH POS unstaking waiting time has exceeded 11 days, reaching a historical new high, with the total amount of ETH waiting to be unstaked breaking through 637,000, compared to approximately 321,000 ETH waiting to be staked, which is only around 50% of the unstaking amount. The market thus fell into panic about institutional unstaking dumping, but is the truth really like this? Odaily will analyze this in combination with major market perspectives for readers' reference.

Behind ETH Unstaking Waiting Time Reaching New High: ETH Returns Above $3,800 After 7 Months

According to OKX market data, ETH price broke through $3,800 this Monday, rising to $3,858.88, and the last time ETH price was above $3,800 was around December 19, 2024, seven months ago.

The rebound and recovery of ETH price naturally caused waves in the crypto market, with many whales, institutions, and retail investors who previously bought the dips choosing to take profits, thus leading to a new high in total ETH unstaking and naturally increasing unstaking waiting time.

According to the latest data from validatorqueue, as of July 24, the total amount of ETH waiting to be unstaked is 637,450, with waiting time extended from around 9 days to 11 days and 2 hours; the total amount of ETH waiting to be staked is approximately 321,000, with a waiting market of about 5 days and 14 hours.

Additionally, the total ETH staking amount is currently around 35.6 million, approximately 29.46% of total ETH, with an APR of about 3%.

According to SoSoValue data, the total net inflow of Ethereum spot ETF on July 22 was $534 million, the third-highest historical figure. Considering the recent "ETH Strategy" dispute and the hoarding demand from listed companies and institutions like SBET, BMNR, and The Ether Machine, the unstaking of hundreds of thousands of ETH is undoubtedly the masterpiece of large ETH holding clusters, with a high possibility that some funds will be used for OTC and exchange inflows of ETH.

According to on-chain analyst Yu Jin's monitoring, address 0x8eE previously increased its holdings by 32,368 ETH (worth $116 million) through FalconX, and has accumulated 138,345 ETH (worth $503 million) since July 19, with an average price of $3,644; a whale/institution accumulating ETH through Kraken today added 8,223 ETH (worth $29.4 million), and has cumulatively accumulated 58,156 ETH (worth $211 million) since July 14, with an average price of $3,564.

In summary, ETF net inflows and ETH strategic reserve demands provide an outlet for large-scale ETH unstaking, and the market demand for ETH remains robust.

Conclusion: Market Enters "ETH Holders Calling Each Other Idiots Moment"

Unlike the market in late June and early July, the crypto market is now entering a "calling each other idiots moment", especially for ETH holders.

Different from the previous market's contemptuous mockery of "ETH price continuously weak" or the triumphant attitude of E-guards during "ETH price gradually rising", as BTC breaks through its historical high and then pulls back below $120,000, the market has again entered a state of divergence, just like the people currently divided into ETH unstaking and waiting-to-stake camps. With Trump's "tariff stick" gradually landing, whether Altcoins including ETH can continue the bull market may face a stage of judgment in early August.

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