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Massive Withdrawal of ETH from Coinbase's cbETH Deposit Address Suggests Building Sell Pressure for Ethereum

Coinbase's cbETH has recently received a large influx of over 53,400 ETH, indicating that many people have terminated their ETH staking contracts, leading to sell pressure for Ethereum.

However, cbETH remains a liquid token that can be used for various DeFi operations. Despite most stakers withdrawing incentives rather than their principal, Ethereum's price currently stands at $1,826.91.

Ethereum Ethereum $3,413.41
+3.07%
Coinbase Ethereum
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