On July 23rd, according to The Block, data shows that the Ethereum validator exit queue has surged in the past week, with approximately 521000 ETH (about $1.9 billion at current prices) waiting to exit the Ethereum network. Since July 16th, the number of requests to exit ETH has increased significantly, and the exit waiting time has been extended to 8 to 9 days, which is the longest waiting time since early 2024. At the same time, there are over 359500 ETH waiting in line to join the network, worth approximately 1.3 billion US dollars, with an expected activation delay of about 6 days.
This situation reflects two opposing forces in the market: on the one hand, some stakers may choose to settle for Ethereum after it rebounded 162% from its April low, leading to a surge in exit queues; On the other hand, newly deposited funds driven by regulatory incentives and institutional demand are also driving up the entry queue, such as listed companies like SharpLink Gaming and BitMine Immersion increasing their holdings of ETH and pledging it.
