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One platform for global traditional assets
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Hot
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CryptoWorld News reports that, according to Cointelegraph, the Ethereum Foundation has unstaked more than 17,000 ETH after nearing a staking target of 70,000 ETH, worth approximately $40 million. This unstaking involves depositing wrapped staked ETH (wstETH) into Lido’s unstETH contract, and it is expected to return ETH after the withdrawal queue is completed. Ethereum unstaking refers to extracting the ETH that was previously locked in order to help secure the network through validators. The Ethereum Foundation has not yet disclosed the reason for the unstaking, and some users speculate it may be in preparation for a sale.