PANews reported on July 23 that according to CoinDesk, the size of the Ethereum validator exit queue is about 519,000 ETH (worth about $1.9 billion), a record high since January 2024, and the current exit waiting time exceeds 9 days. Analysis pointed out that this is mainly related to the profit-taking of stakers after the ETH price rose 160% from the low point in April.

Data shows that despite the exit wave, the demand for Ethereum staking remains strong - there are currently 357,000 ETH (worth $1.3 billion) waiting to enter the staking queue, with a waiting time of more than 6 days. This phenomenon is partly due to the continued increase in holdings by Ethereum treasury companies such as SharpLink Gaming, and the increase in institutional participation after the SEC clarified at the end of May that staking does not violate securities laws. Since late May, the number of active validators has increased by 54,000, reaching a historical peak of 1.1 million. Industry insiders pointed out that the surge in exit queues may also include institutional investors who have unstaked their shares to participate in ETH treasury company fundraising.