According to ChainCatcher, Bitmine Chairman Tom Lee stated that Ethereum may experience a new V-shaped rebound after its recent decline, and may currently be nearing its bottom. He pointed out that since 2018, Ethereum has experienced eight downtrends exceeding 50%, and all eight rebounded at roughly the same pace, achieving a 100% recovery.
Despite the downward pressure on prices, on-chain data shows that ETH staking demand remains strong. The validator entry wait time has now reached a record high of 71 days, with approximately 4 million ETH in the staking queue, representing 30.3% of the circulating supply (approximately 36.7 million ETH).
