Affected by Ethereum's rise of more than 160% since April, there has been a large-scale cash-out wave among ETH pledgers, and the number of validators queuing up to 519,000 ETH, worth about $1.92 billion, queuing for more than 9 days, the highest level since January 2024.
At the same time, institutional pledge enthusiasm has driven the number of ETH entering the queue to 357,000, worth about $1.30 billion, and the queue time is more than 6 days, the longest since April 2024. After companies such as Sharplink Gaming switched to ETH vault strategy in May, pledge demand has increased significantly.
Exits, the analysis noted, were mainly driven by profit-taking by early collectors, while inflows were boosted by regulatory upside after the SEC clarified on May 29 that "collateral does not violate securities laws." As of now, the number of active validators on Ethereum has exceeded 1.09 million, increasing by more than 54,000 since the end of May.
Figment co-founder Andy Cronk said that institutional pledge orders have increased by more than 100%, and validator queue times have increased by more than 360%, in line with the rise in ETH prices.
Ethereum pledge flow accelerated, exit and entry funds rose to about 2 billion and 1.30 billion dollars respectively
2025-07-22 22:00:15
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