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Approximately $26.4 Billion ETH Queued to Exit Ethereum PoS Network as Demand for Staking Decreases
Summary: According to Validator Queue data, the current queue to exit the Ethereum PoS network 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 queue at all. The value of ETH exiting the PoS network is approximately ...
According to Validator Queue data, the current queue to exit the Ethereum PoS network 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 queue at all. The value of ETH exiting the PoS network is approximately $26.4 billion at current prices, with withdrawal delays now extended to 12 days and 1 hour.
Meanwhile, the demand for staking from new validators has started to decline after a recent surge. On July 17, there were 435,000 ETH queued to enter the network, but today the queue has dropped to 220,000 ETH, worth around $8.36 billion. The current wait time for entry is 3 days and 20 hours.
Andy Cronk, co-founder of staking service provider Figment, previously stated that people tend to unstake and sell when prices rise to lock in profits, with both retail and institutional investors following this pattern over multiple cycles.
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Link: Approximately $26.4 Billion ETH Queued to Exit Ethereum PoS Network as Demand for Staking Decreases [Copy]
