ChainCatcher News, Bitmine Chairman Tom Lee stated that Ethereum may experience a new V-shaped rebound after a recent decline, and it may already be close to the bottom range. He pointed out that since 2018, Ethereum has gone through 8 decline cycles with drops of more than 50%, and all 8 have rebounded at similar speeds and achieved 100% recovery.
Despite the price being under pressure, on-chain data shows that ETH staking demand remains strong. Currently, the waiting time for validator entry has risen to a record high of 71 days. The queued staking amount is about 4 million ETH, with the total staked amount accounting for 30.3% of circulating supply (approximately 36.7 million ETH).
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