Fundstrat’s head of research, Tom Lee, predicts a quick rebound for Ether following recent drops, citing eight previous V-shaped recoveries since 2018. He believes that ETH is close to hitting bottom, with strong demand for Ether staking despite a 37% price crash in the last 30 days. The current wait time to stake Ether is at an all-time high of 71 days, with a record 4 million ETH in the validator entry queue, representing 30.3% of the total supply staked. Analysts suggest that one-third of all ETH is now illiquid, with people locking up $74 billion during the price dip.

Read more at Cointelegraph: Ethereum Set For V-Shaped Recovery, Fundstrat’s Lee Says