Ethereum Validators Boost Network Queue during Price Surge
Main Idea
Ethereum's network saw a significant increase in validator queues, both for withdrawals and new entries, driven by a surge in ETH prices and regulatory developments.
Key Points
1. Approximately 521,000 ETH ($1.9 billion) are queued for withdrawal with wait times of 8-9 days, the highest since 2024.
2. Over 359,500 ETH ($1.3 billion) are in line to join the network, driven by a 162% price increase since April and institutional interest.
3. The exit queue growth is primarily due to profit-taking as ETH's value rose significantly since April.
4. Regulatory ease, including the SEC's decision not to include staking language in filings, contributed to increased validator entries.
5. As of July 22, 29.4% (36.39 million units) of circulating ETH is staked, surpassing the previous peak of 35 million on June 17.
Description
Ethereum faces increased validator queues due to recent price surges. Profit-taking drives the outgoing queue, while institutional interest boosts entry. Continue Reading: Ethereum Validators Boost Network Queue during Price Surge The post Ethereum Validators Boost Network Queue during Price Surge appeared first on COINTURK NEWS .
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