Ethereum validator exit queue is now at a 4 month low (bullish) The exit queue is a leading indicator for predictable supply flows entering the market via unstaking, and it has indicated sell pressure since July I estimate that around 5% of the ETH supply ($15bn) has exchanged hands since then - this accounts for Kiln's unstaking in September Roughly 70% of this unstaked ETH has been absorbed by @BitMNR - they now hold 3.4% of the ETH supply Bitmine is currently holding $1bn in cash, and their intention is to use this to buy more ETH (@fundstrat's alchemy of 5%) At its current rate, the validator exit queue will reach 0 on Jan 3rd - after which I expect the sell pressure on ETH to subside ETH looking good here