Approximately $2.64 Billion Worth of ETH Queued to Exit Ethereum PoS Network as New Staking Demand Declines
On July 27, according to validatorqueue, a website tracking validator queues, the current Ethereum PoS network exit queue has increased to 694,000 ETH, with a recent peak of 744,000 ETH. On July 16, this number was only 1,920 ETH, and on July 15, there was no need to queue for exit at all. Based on current prices, the ETH exiting the PoS network is worth approximately $2.64 billion, and the withdrawal delay has been extended to 12 days and 1 hour. Meanwhile, after a recent surge, the demand for new validator staking has reached a turning point. On July 17, there were 435,000 ETH waiting to enter the network, but today the entry queue has dropped to 220,000 ETH, valued at about $836 million, with the current entry queue wait time at 3 days and 20 hours. Andy Cronk, co-founder of staking service provider Figment, previously stated: "When prices rise, people unstake and sell to lock in profits. We have observed that both retail and institutional participants follow this pattern through multiple cycles."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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