Today, Ethereum released a magical data point—validators queuing to exit hold as much as 910,000 ETH, worth $3.9 billion, setting a historical record! But on the other hand, there are also 260,000 ETH eager to enter staking. In this operation of mutual combat, who is running away? Who is bottom fishing?



Let's start with the core: this is not a signal of collapse, but a sign of market maturity!

It's like a highway toll booth; traffic jam at the exit doesn't mean an accident, it could be a buy one get one free deal at the service area, those in the know understand. What we really need to be cautious about is a clear exit with no one willing to leave—that would be a real downturn!


Lao Zhao analyzes the psychology of two groups of people:


1. Wave of exits:

Most are early stakers, ETH has risen nearly 70% from the low in April, if it were you, you would want to cash out to buy a house or a car too!

Some institutions are rebalancing at the end of the quarter, cashing out profits, purely operational with no relation to belief.

The technical threshold for validator nodes is high, small retail investors may take advantage of high prices to exit and switch to custodial services.


2. Influx of funds:

Expectations for the US Ethereum ETF are heating up, institutions are positioning early (companies like SharpLink, BitMine are hoarding massively).

The annual yield on staking is about 3.5%, more attractive than US Treasuries, large funds see it as fixed income allocation.

After the Ethereum upgrade, withdrawals are free, worry-free, attracting long-term funds.


Key insights:

Short-term prices reflect sentiment, long-term value reflects net inflow! The current wave of exits ≠ selling pressure, because the exit queue requires a 19-day wait (maximum of 1,800 ETH per day), the actual daily outflow only accounts for 0.1% of trading volume, not enough to fill the gaps for the whales! Meanwhile, entering funds are directly locked up, which reduces the circulating supply.


Lao Zhao's perspective:

Don't be scared by exaggerated data; the Ethereum staking rate is only 22% (while SOL is 69%), there is still a lot of potential.

The trend of institutional entry will not stop, BlackRock is applying for an ETH ETF, are you smarter than them?

The real risk is actually a staking rate that's too low, leading to decreased network security, but we are far from the critical point at the moment.


There are no gods in the crypto world, only smart people who can read signals. Lao Zhao's articles are not boastful or unrealistic, but teach you practical survival skills. Follow Lao Zhao for daily strategies and know in advance.#ETH质押退出动态观察 $ETH