The increase in Ethereum staking unlock percentage could pose a short-term risk of a large sell-off, but it depends on several factors. As more ETH becomes liquid, stakers who were previously locked in might sell to realize gains or mitigate losses, especially if market sentiment shifts. However, historical data post-Shapella upgrade (2023) showed net outflows were limited—only 143,300 ETH ($287M) exited despite $35B unlocked—suggesting many stakers are long-term holders. Current staking ratios (28.54% as of Dec 2024) and steady inflows indicate confidence in Ethereum’s ecosystem. While a sell-off is possible, it may be moderated by ETH’s deflationary mechanics and staking rewards (2.7%-10% APR), reducing immediate pressure unless triggered by external market volatility.