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Today, while scrolling through Weibo, I saw a message saying that Ethereum network validators are queuing up to unstake their ETH.
According to the data from the Validator Queue, as of July 23, approximately 521,252 ETH have accumulated in the exit queue for Ethereum validators, which is worth about $1.93 billion at current prices, with a waiting time of over 9 days and 1 hour to unstake.
This is also the longest queue that validators have faced when choosing to exit in the past year.
Since each validator typically stakes 32 ETH, this theoretically means that over 16,000 validators are seeking to exit their stakes. The large-scale queuing to unstake raises some alarming signals.
As a representative of the PoS consensus mechanism, staking ETH is technically used to maintain the security of the entire Ethereum network, and economically, it can generate additional returns from staking, locking the liquidity of ETH in the staking pool.
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