Key Takeaways:
- A total of 570,000 ETH was unstaked from the Ethereum network.
- The large supply increase coincided with a 2.2% price dip for ETH.
- The event signals potential for increased volatility and sell-side pressure.
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Ethereum dips 2.2% after 570,000 ETH unstaking event
Ethereum’s price fell 2.2% on April 10, 2026, after a significant on-chain event saw 570,000 ETH tokens, worth approximately $2.1 billion at the time, become liquid.
"This unstaking event represents a notable increase in the immediately sellable supply of ETH, putting downward pressure on its price," said Alex Svanevik, CEO of on-chain intelligence firm Nansen. "It's a classic supply-demand shock."
The unstaking occurred at approximately 08:00 UTC and was one of the largest single-day unlocking events of the year. Data from Dune Analytics confirms the movement from staking contracts to liquid wallets, increasing the circulating supply available on exchanges like Binance and Coinbase.
The move raises questions about the short-term strategy of large Ethereum holders. The increased liquidity could lead to further price volatility as the market absorbs the new supply, with traders watching if the price can hold support above the $3,500 level.
The unstaking event follows a period of relative stability for Ethereum, which had been trading in a tight range. This sudden injection of supply disrupts that equilibrium. The action could be interpreted as large holders de-risking their positions, possibly in anticipation of future market turbulence or to realize profits.
From a technical perspective, the price of ETH on Ethereum is now testing a key support zone. A failure to hold this level could see a deeper correction, while a strong defense by buyers might indicate that the dip was a temporary bear trap, with underlying demand sufficient to absorb the new supply. The event also highlights the growing importance of on-chain data for market participants, providing a transparent look at supply dynamics that can preempt price movements. Bitcoin's price remained relatively stable during the same period, suggesting the pressure was specific to Ethereum.
This article is for informational purposes only and does not constitute investment advice.
