Big news in the crypto space! The latest data from validatorqueue reveals a crucial truth: the number of ETH exiting the Ethereum PoS network has soared to 910,461, setting a historical record—at current prices, that's a magnitude of $39.1 billion!


Behind this set of data lies the 'exit signal' from veteran players: a group of whales who built positions at the ETH low point in April (below $3000) chose to cash out as the price surged above $4000. It's important to know that if these large chips were to be sold off en masse, it would not be a small fluctuation, and it could create deep pits in the market.
But the plot does not follow the 'panic script'—on the other hand, there are 268,217 ETH waiting in line for staking! This is not retail investors following the trend, but institutional funds 'grabbing the opportunity': companies like SharpLink Gaming and BitMine Immersion are directly increasing their ETH holdings and staking, coupled with favorable regulations (such as the SEC's easing stance on ETH compliance) and ETF expectations, fresh institutional funds are taking over the chips from veteran players.
Now the market is caught in a 'super tear':

  • Exit tide = bulls cashing out profits, hiding a potential selling pressure of $39.1 billion;

  • Entry tide = new funds stabilizing the market, indicating that ETH's medium to long-term value is still recognized by institutions.
    This is like a tug of war: on one side are the old whales 'running away,' and on the other are new institutions 'passing the baton.' Who wins and who loses will directly determine whether ETH will collapse and correct or begin a second wave of the main uptrend.

I. Old Tang dissects the 'bloody truth': the 3.4:1 fund ratio is not a healthy turnover

Don't be fooled by the appearance of 'new funds entering the market'! The ratio of ETH outflow (910,000) to inflow (268,000) is as high as 3.4:1—this is not 'healthy turnover,' but a 'one-sided suppression' of new funds by profit-taking.
More importantly, the exit from Ethereum staking has a '37-day lock-up period,' meaning that the selling pressure from these 910,000 ETH will not be released all at once, but will continue until the end of September. For bears, this is equivalent to a 'natural ammunition depot,' and each subsequent rebound could become a window for selling pressure to be released.

II. The hidden hand emerges: whale harvesting + regulatory strangulation

On-chain data reveals two key signals:


  1. Whales' 'precise harvesting': this exit tide perfectly coincides with the 80% surge of ETH in April—whales who built positions below $3000 initiated the 'harvesting program' above $4000, which is typical 'low buy, high sell';

  2. The 'invisible pressure' from regulations: the SEC suddenly inspected multiple ETH staking service providers this month, forcing some institutions to reduce their staking positions to avoid risks, adding to the 'exit tide' and forming a dual strangulation of 'whale selling + institutional reduction.'

III. Old Tang discovers the 'reversal opportunity': the code for institutional bottom-fishing, history may repeat itself

But there are opportunities hidden in panic! Two signals suggest 'the plot may reverse':


  • Listed companies 'buying against the market': SharpLink, BitMine, and other companies frantically acquired 260,000 ETH for staking, indicating that industrial capital recognizes the current price;

  • ETF countdown + historical cases: BlackRock's spot ETH ETF is entering a critical period, while after the Lido staking crisis in 2020, ETH surged 600%—at that time it was also 'retail panic exit, institutions bottom-fishing,' and the script is highly similar now.

IV. Emergency warning and strategy: short-term prevention of a market crash, long-term wait for takeoff

  1. Short-term risks (within 1 month): an exit tide may cause the annualized APY (yield) for staking to plummet below 3%, and some staking miners may sell ETH to pay user yields, requiring caution against short-term corrections triggered by 'yield panic';

  2. Long-term opportunities: Ethereum's Cancun upgrade (enhancing performance) + ETF rollout (bringing in incremental funds) are 'dual core drivers.' At the end of September, when the 37-day exit period ends and selling pressure clears, it is highly likely to be the best time for ETH to take off;

  3. Old Tang's exclusive operation: in the short term, you can place orders in the $4100 range on exchanges, gradually picking up 'panic knives'; long-term investors shouldn't get caught up in short-term fluctuations, but wait to add positions after the selling pressure ends at the end of September, which is more prudent.

Summary: ETH's 'watershed moment,' after the exchange change, will it be a bloody storm or a bull market restart?

Ethereum is currently witnessing a rare 'battle of the exchanges' in the crypto space—$39.1 billion of old chips are exiting, while 260,000 of new funds are entering, like a match next to a powder keg, ready to ignite a major market movement at any moment.


In the short term, the 3.4:1 fund ratio and continuous selling pressure may cause ETH to fluctuate and correct; but in the long term, institutional buy-in + technological upgrades + compliance have already built a 'safety cushion' for ETH.
The key moving forward is to closely monitor the on-chain exit progress and ETF dynamics—I will track the data in real-time to help everyone see through the truth of this 'staking mass exodus.' Follow me, and don't miss this critical market moment that could either plunge or take off!

ETH has currently reached strong weekly support, indicating that it has adjusted, and the $4060 level has begun to form a bottom, allowing for long positions to be established; feel free to share your thoughts in the comments!#ETH质押退出动态观察