Coinbase Observes $1.3 Billion Ethereum Unstaking Wave Amid ETH Price Rally

Over 350,000 ETH, worth approximately $1.3 billion, are currently queued for unstaking, sparking concerns about potential selling pressure on Ethereum. This development follows a significant 160% rally in ETH's price since April 2025, with investors likely capitalizing on profits. Crypto investor Udi Wertheimer draws parallels to a similar event in January 2024, where a 25% ETH/BTC rally preceded a price correction. The unstaking process allows previously locked ETH to re-enter circulation, potentially impacting market dynamics. As one of the largest cryptocurrency exchanges, Coinbase may see increased trading activity as these funds become liquid. Market watchers are closely monitoring whether this unstaking wave will trigger a short-term price dip or if strong underlying demand will absorb the additional supply. The situation presents both challenges and opportunities for Ethereum's market structure as it continues to solidify its position in the crypto ecosystem.

Ethereum Faces $1.3 Billion Unstaking Wave — Implications for ETH Price

More than 350,000 ETH, valued at approximately $1.3 billion, are queued for unstaking, raising concerns about potential selling pressure. This follows Ethereum's 160% rally since April, with investors possibly looking to take profits. Udi Wertheimer, a prominent crypto investor, noted a similar pattern in January 2024, when a 25% ETH/BTC rally preceded a price decline.

Unstaking allows ETH to be withdrawn from staking contracts, converting it into liquid assets. Historical data shows that over 500,000 ETH were unstaked earlier in 2024 before ETH surged from $2,100 to $4,000, only to retreat to $2,100. The current wave could signal market volatility ahead.

Viktor Bunin of Coinbase suggests the unstaked ETH might be redirected to internal treasury funds for long-term strategies rather than panic selling. This could mitigate immediate downside pressure, but the market remains watchful for shifts in sentiment.

SpaceX Resumes Bitcoin Activity After Three-Year Hiatus with $153M Transfer

SpaceX has broken a three-year dormancy in its Bitcoin treasury management, transferring 1,308 BTC ($153 million) to a new wallet. The aerospace giant last moved 17,314 BTC ($510.65 million) to Coinbase in May-June 2022 when Bitcoin traded near $29,490, suggesting a strategic rebalancing.

On-chain data reveals SpaceX still holds approximately 6,977 BTC ($820 million), maintaining its position among corporate bitcoin whales. The sudden movement after 36 months of inactivity sparks speculation about potential shifts in the company's crypto reserve strategy.

Coinbase Launches CFTC-Regulated Perpetual Futures for U.S. Traders

Coinbase has opened access to CFTC-regulated perpetual futures for U.S. retail investors through its Coinbase Financial Markets (CFM) platform. This marks the first time American traders can engage with these derivatives in a fully compliant environment.

The offering includes nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) contracts, which provide fractional exposure to the underlying assets with lower capital requirements. These perpetual futures feature 10x intraday leverage, no expiration dates, and trading fees as low as 0.02%.

Perpetual futures dominate crypto derivatives volume globally, accounting for nearly 90% of activity. Until now, U.S. participation has been constrained by regulatory complexity. Coinbase's MOVE signals growing institutional adoption of crypto derivatives within regulated frameworks.

Stablecoin Market Surge Poses Risks and Opportunities for US Treasuries

The stablecoin market capitalization has eclipsed $250 billion, with transaction volumes now rivaling traditional payment networks like Visa and PayPal. Regulatory clarity has fueled this growth, positioning stablecoins as a formidable force in global finance.

Tether dominates centralized exchange collateral and emerging market transfers, with profitability metrics approaching those of major financial institutions. USDT's lead is reinforced by extensive asset networks and spot market presence, followed by USDC and USDS in descending order.

Cross-border payment volumes are projected to exceed $320 trillion by 2032. Even marginal efficiency gains could unlock billions in value, as stablecoins increasingly displace legacy payment rails like ACH and card networks.

E-commerce integration accelerates through platforms like Shopify, leveraging partnerships with Coinbase and Stripe. This mainstream adoption underscores stablecoins' expanding total addressable market across merchant services and remittances.