BlockBeats news, on July 23, according to The Block, data shows that the Ethereum validator exit queue has surged in the past week, with approximately 521,000 ETH (equivalent to about $1.9 billion at current prices) currently waiting to exit the Ethereum network. The number of exit requests for ETH has significantly increased since July 16, and the exit waiting time has extended to 8 to 9 days, the longest waiting time since early 2024. Meanwhile, ETH waiting to join the network exceeds 359,500, approximately $1.3 billion, with an expected activation delay of about 6 days.
This situation reflects two opposing forces in the market: on one hand, some stakers may choose to cash out after Ethereum's rebound of 162% since the low in April, leading to a surge in the exit queue; on the other hand, new deposits driven by regulatory tailwinds and institutional demand are also pushing up the entry queue, as publicly listed companies like SharpLink Gaming and BitMine Immersion increase their holdings of ETH and stake it.
