- Vitalik Buterin defended Ethereum’s 45-day staking exit queue as necessary for stability.
- A Galaxy Digital executive faced backlash for its Ethereum criticism.
- ETH trades near $4,570, just 8% below its all-time high.
Ethereum co-founder Vitalik Buterin addressed mounting criticism over the network’s 45-day staking exit queue, arguing that the delay is necessary for security and stability.
The issue gained traction after Galaxy Digital’s head of DeFi compared Ethereum’s wait time with Solana’s two-day process, a post that was later deleted after pushback from ETH supporters.
Buterin’s View on Staking
Buterin said that staking should be seen as more than just a financial move, describing it as a responsibility to help protect the network.
He admitted the current system is not perfect but argued that making exits too quick could weaken the network’s trust and stability.
Ethereum’s Validator Strength
Ethereum remains strong overall, with more than one million validators and 35.6 million ETH staked, almost 30% of the total supply.
Related: Can Quantum Computers Hack Crypto? Vitalik Buterin Places Odds at 20% by 2030
Despite the long wait times, interest in staking is rising. The entry queue recently hit a two-year high, with 512,000 ETH waiting to be staked as institutional investors continue to pile in.
Galaxy Digital Faces Scrutiny
Interestingly, Galaxy Digital is facing criticism for appearing to push a negative narrative against Ethereum while also investing heavily in Solana.
The company recently teamed up with Multicoin Capital and Jump Crypto to buy $1.5 billion worth of SOL.
Some in the Ethereum community accused Galaxy of undermining its own credibility, with a few even saying they will avoid working with the firm going forward.
ETH Price Analysis: Bulls Eye $4,700, But Risks Remain
ETH has climbed more than 3% over the past week and is now trading around $4,570 after briefly touching $4,644. The price sits just 8% below its all-time high of $4,900, according to CoinMarketCap data.
On the daily chart, ETH is moving between support at $4,432 (middle Bollinger Band) and resistance at $4,704 (upper band). A clean breakout above $4,704 could set the stage for a run toward $4,800 and possibly a retest of $4,900 if trading volume increases.
The RSI is neutral, meaning there’s space for more gains before ETH becomes overbought. A bullish MACD crossover would also strengthen the case for more upside. On-chain data shows steady accumulation, with institutional buyers adding to momentum.
However, if ETH loses the $4,432 support, it could drop toward $4,160. A fall below that would raise the risk of a slide to $3,800.
Related: Ethereum’s Price Rallies, Vitalik Buterin Highlights Flaws in Prediction Market
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
