Data: Approximately 519,000 ETH is currently queued to exit the Ethereum PoS network, with the exit queue reaching its longest wait time in nearly a year and a half.

July 23rd: On Tuesday, the exit queue of Ethereum validators reached the longest waiting time in more than a year. This might suggest that stakers are eager to withdraw their funds after a substantial surge in the ETH price. The data from the validator queue tracking website validatorqueue shows that as of Tuesday afternoon in US time, approximately 519,000 ETH (valued at $1.92 billion at the current price) is in the withdrawal queue. This is the largest exit queue since January 2024, resulting in withdrawal delays of more than 9 days. Andy Cronk, the co-founder of the staking service provider Figment, stated: "During price increases, people unstake and sell to lock in profits. We have observed both retail and institutional players following this pattern across multiple cycles." He added that when large institutions change custody providers or wallet technology, it could also trigger large-scale unstaking. Despite the wave of unstaking, the market may not necessarily face significant selling pressure because the demand for staking from new validators is also strong. Currently, there are 357,000 ETH (worth $1.3 billion) waiting to enter the network, and the admission queue has extended to more than 6 days, setting a new record since April 2024. Some of the new demand may come from the ETH treasury fund. The SEC's statement that staking is not illegal has further boosted institutional interest. Data shows that the number of active validators has increased by 54,000 since late May, reaching a historic high of nearly 1.1 million.