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 (worth about $1.9 billion at current prices) currently waiting to exit the Ethereum network. The number of ETH requesting exit has significantly increased since July 16, with the exit waiting time extended to 8 to 9 days, the longest wait since early 2024. Meanwhile, the queue of ETH waiting to join the network exceeds 359,500, approximately $1.3 billion, with an estimated activation delay of about 6 days.
This situation reflects two opposing market forces: on one hand, some stakers may choose to take profits after Ethereum's 162% rebound from its April low, leading to a surge in the exit queue; on the other hand, new funds driven by regulatory benefits and institutional demand are also pushing up the entry queue, with listed companies like SharpLink Gaming and BitMine Immersion increasing their ETH holdings and staking.