About $1.9 billion worth of ETH is queuing to exit the Ethereum PoS network, while about $1.3 billion worth of ETH is waiting to join

Odaily News Data shows that the Ethereum validator exit queue has surged in the past week. Currently, about 521,000 ETH (about $1.9 billion at current prices) are waiting to exit the Ethereum network. The number of requests to exit ETH has risen sharply since July 16, and the waiting time for exit has been extended to 8 to 9 days, which is the longest waiting time since the beginning of 2024. At the same time, there are more than 359,500 ETH waiting in line to join the network, about $1.3 billion, and the activation delay is expected to be about 6 days. This situation reflects the existence of two opposing forces in the market: on the one hand, some stakers may choose to cash in after Ethereum rebounded 162% from its April low, resulting in a surge in exit queues; on the other hand, new deposits driven by regulatory benefits and institutional demand are also pushing up the entry queue, such as listed companies such as SharpLink Gaming and BitMine Immersion increasing their holdings of ETH and staking. (The Block)