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24/07/25 12:55 UTC-04

Stakers Withdraw $2.3 Billion in Ethereum After 160% Price Surge

What happened?
The queue of Ethereum validators exiting the network has reached a record wait time, as many seek to unlock their coins following a sharp rise in ETH’s price.
Validators are preparing to withdraw around 625,000 ETH, worth $2.3 billion, but strong institutional demand for staking may help ease potential sell pressure.

What else is known?
The congestion is caused by Ethereum’s Proof-of-Stake (PoS) consensus mechanism, which limits the speed at which validators can enter or exit the network.
Validators are entities that stake ETH to help secure the blockchain in exchange for rewards.

Currently, withdrawing staked ETH takes more than 10 days, highlighting a broad move to lock in profits.
Those who staked when ETH was significantly lower are likely the first to exit.

In March and early April, validator participation spiked when ETH was trading at $1,500–$2,000. Since its April low, ETH has gained 160%.

Despite the large-scale withdrawal, strong selling pressure may not materialize, as there is sustained demand for staking and activating new validators.

For example, over 343,000 ETH (worth almost $1.3 billion) are waiting to be staked, causing the entry queue to stretch beyond six days — the longest wait time since April 2024.

Some of this new demand may come from public companies accumulating ETH to offer indirect exposure to investors via stocks.
Examples include SharpLink Gaming (SBET) and Bitmine (BMNR).
Sharplink Gaming, for instance, has acquired over $1.3 billion in ETH since late May and is actively staking those coins.

Additionally, some of these companies raised capital in-kind, prompting institutional token holders to shift from staking to direct investment, according to Matthew Sheffield, head of spot trading at broker FalconX.

Furthermore, on May 29, the U.S. Securities and Exchange Commission (SEC) clarified that staking does not violate securities laws, increasing institutional interest.

As a result, the number of active validators has grown to 54,000 since late May, with total validators nearing 1.1 million, according to validatorqueue data.

See also: "Bitcoin Price Today: Falls Below $116K Ahead of Fed Meeting and Crypto Policy Report"

#Ethereum (ETH)

Editor: Daria Mukhina
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