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Odaily Planet Daily – As of the afternoon of July 23, Eastern Time, the cumulative number of ETH withdrawn from the Ethereum validator exit queue has reached 519,000 ETH, equivalent to approximately $1.92 billion at current prices. The exit waiting time has exceeded 9 days, marking a new high since January 2024.Analysts point out that this wave of exits is mainly driven by profit-taking after ETH rebounded 160% from its April low. Figment co-founder Andy Cronk stated, “When prices rise, both retail and institutional investors tend to unstake to realize their gains.”It is worth noting that recently, Ethereum treasury companies such as SharpLink Gaming and Bitmine have been actively purchasing ETH in the market. Some institutional investors may be choosing to unstake and contribute physical assets in order to participate in fundraising for such projects. FalconX Head of Spot Trading Matthew Sheffield noted that several ETH treasury projects have been active in the market in recent weeks, and the surge in the exit queue may be related to this.Despite the increase in unstaking, demand for staking remains strong. Currently, about 357,000 ETH (worth $1.3 billion) are queued up waiting to be staked, with a queue time exceeding 6 days, also a new high since April this year. Since the SEC clarified on May 29 that staking does not violate securities laws, institutional participation has increased significantly. Data shows that the number of active validators has grown by 54,000 since late May, approaching the historical high of 1.1 million. (CoinDesk)

According to Jinse Finance, as monitored by TraderT, U.S. spot Bitcoin ETFs saw a net outflow of $67.94 million yesterday.