CoinVoice has recently learned that according to validatorqueue data, the Ethereum validator exit queue set a record for the longest wait time in over a year on Tuesday, which may indicate that stakers are eager to withdraw after a significant surge in ETH prices. As of Tuesday afternoon in the U.S., approximately 519,000 ETH (valued at $1.92 billion at current prices) are queued to exit the network. This is the largest exit queue size since January 2024, leading to withdrawal delays extending to over 9 days. Andy Cronk, co-founder of staking service provider Figment, stated: "When prices rise, people unstake and sell to lock in profits. We observe that both retail and institutional players follow this pattern over multiple cycles." He added that large institutions changing custodians or wallet technologies may also trigger massive unstaking. Despite the wave of unstaking, the market may not necessarily bear the burden of massive selling pressure—because the demand for staking from newly activated validators is also strong. Currently, there are 357,000 ETH (valued at $1.3 billion) waiting to enter the network, with the admission queue extending to over 6 days, marking the longest record since April 2024. Some of the new demand may come from the ETH treasury fund. The U.S. SEC's declaration that staking is not illegal has also further boosted institutional interest. Data shows that since late May, the number of active validators has increased by 54,000, reaching a historic high of nearly 1.1 million. [Original link]
