🚨Exit Queue Death Spiral🚨
Day 15 post-Shanghai
Your staked ETH withdrawal is finally ready
For 2 weeks, withdrawn ETH has been steadily sold in the illiquid spot market, with price bleeding down
75 days of validators are waiting in the exit queue behind you
What do you do?

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🚨退出隊列死亡螺旋🚨
上海之後的第 15 天
您質押的ETH提款終於準備就緒
兩週來，提取的ETH在流動性差的現貨市場穩定出售，價格不斷下跌
75 天的驗證者在你身後的出口隊列中等待
你做什麼工作？

2024年的最後一個月份已至。在這最後一個月，山寨幣季節到來了。比特幣仍舊未突破10萬美元里程碑。雖然由於熱點向山寨幣轉向，但meme市場並未徹底熄火，每天仍有很多新的項目爆發。
Followin將在這篇文章中不斷更新每天的熱門meme幣，一起掌握最新的meme動態。
12月10日
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Luigi（+350...

瘋狂meme季節，今日哪些meme幣在漲？（持續更新中）

這是 <Pantera Capital> 透過兩個獨立基金啟動的籌資活動的結果。

<Pantera Capital> 希望向 <TON> 區塊鏈再投資 2000萬 <刀>。

根據一份...

Pantera Capital又向TON區塊鏈「注入」2000萬鎂

貪婪指數接近歷史頂峰，MVRV、ahr999 等技術面指標接近 21 年 11 月與 24 年 3 月，其餘維度仍在中期。

比特幣徘徊十萬關口，六個維度解析我們在牛市的什麼階段？

This is the Exit Queue Death Spiral
If you know what “!pray” means, you know how this exact exit queue scenario played out for Temple
Even ETH diehards who don’t want to sell will have every incentive to do so to avoid being dumped on by the next person behind them in the queue

這是退出隊列死亡螺旋
如果你知道“!pray”的意思，你就會知道 Temple 退出隊列的場景是如何發生的
即使是不想出售的ETH頑固分子也會有充分的動機這樣做，以避免被隊列中排在他們後面的下一個人甩掉

The paradox of the Exit Queue Death Spiral is that many of the withdrawing validators may be ETH maxis who want to hodl/re-stake, but it may still be a game theory optimal decision for them to sell and re-buy later once ETH price has decreased and the exit queue has cleared 

退出隊列死亡螺旋的悖論是，許多退出的驗證者可能是ETH maxis，他們想要HODL/重新抵押，但一旦ETH價格上漲，他們出售和重新購買可能仍然是博弈論的最佳決策已經減少並且退出隊列已經清除

Just as there are always new sellers as a token’s price decreases (more holders go underwater or sell out of fear of going underwater), an exit queue creates a perverse incentive for even protocol supporters to dump their beloved tokens out of self-defense - a snowballing effect

正如代幣價格下跌時總會有新的賣家（更多的持有者陷入困境或因害怕陷入困境而賣出），退出隊列會產生一種不正當的激勵，甚至協議支持者也會出於自衛而拋售他們心愛的代幣——a滾雪球效應

The takeaway is that the first few days of ETH price action after Shanghai on April 12 will be critically important to the decision-making incentives of the next withdrawing stakers in the queue
And unfortunately, the stakers at the front of the queue are the most likely to dump

結論是，4 月 12 日上海之後的前幾天ETH價格走勢對於隊列中下一個退出質押者的決策激勵至關重要
不幸的是，排在隊伍前面的質押者最有可能傾倒

So as the first withdrawing stakers dump, there is a real possibility of creating a downward rolling snowball of compounding negative price action, a self-fulfilling death spiral that leads to ever more dumping

因此，當第一個撤回的質押者傾銷時，確實有可能創造一個向下滾動的複合負面價格行為的雪球，一個自我實現的死亡螺旋，導致更多的傾銷

And keep in mind, this doesn’t include the ~1.1 million ETH rewards (partial withdrawals) that will unlock over days 1-5 post-Shanghai, which are much more likely to be sold than withdrawals, and may generate enough momentum in the initial days to start the downward spiral 🌀✌🏻 

請記住，這不包括將在上海之後的第 1-5 天解鎖的約 110 萬ETH獎勵（部分提款），這些獎勵比提款更有可能被出售，並且可能會在未來產生足夠的動力開始螺旋式下降的最初幾天🌀✌🏻