Hilarious, mETH withdrawals are throttled and queued.
It’s going to be interesting to see how long it takes to drain that queue.
Discussion
Apparently 50-60 ETH per day can be withdrawn.
Sorry, 50K-60K per day.
There is 18M staked ETH apparently. It would take at least 300 days for it all to work through the queue if they all tried to withdraw starting today.
February 6th, 2024
My suspicion is that this trapped Eth has held Ethereum’s price artificially up this time.
I bet this throttling is not there just because.
It’s a wonderful way to a market from doing what they actually want to do.
I read on twitter that if everyone were to withdraw it might take until end of may to fulfill those withdrawals.
If the info these guys are sharing is accurate it is about 60K ETH/day with 18M ETH staked. So February next year if that is all correct and everyone tries to withdraw.
These guys are speculating it will be a few weeks, but that assumes a whole lot about how many will want to withdraw.
