#ETH Hits 4800#

Ethereum's exit is reaching nine days of waiting, with nearly 2 billion dollars worth of Ethereum ready to exit the network:
- The waiting time for Ethereum investigators to exit reaches nine days after the recent increase of 160%.
- A total of 521,252 ETH is shown in the checklist waiting to exit the Ethereum network.
- The number of investigators leaving the Ethereum network exceeds the number of new investigators entering by 3 days.
The Ethereum network (ETH) is witnessing a mass exodus of validators waiting in line to exit with the Ethereum they staked. The 160% rise in Ethereum over the past four months has led to a shift in the attitudes of validators. The increase in the number of new validators and the failure of Ethereum's staking withdrawal queue to surpass the exit queue indicate a relative decline in demand.
- Sharp increase in the queue for Ethereum investigators:
The value of Ethereum has risen by more than 160% over the past four months, from its lowest level of the year at $1,385 on April 9. However, this bullish wave, which reached 26%, surpassed the $3,700 level last week, indicating the exit of Ethereum auditors.

Data from the Validator Queue shows an increase in the number of ETH in the withdrawal queue to 521,252 ETH worth $1.95 billion, up from 1,920 ETH last week. This massive amount of ETH waiting to exit the network has led to a waiting time of nine days on Wednesday, up from 0.03 days last week.

Typically, an increase in the number of exits indicates a decline in interest in the network, suggesting that validators are trying to withdraw their funds after the recent price surge. On the other hand, the waiting time helps regulate the number of active validators on the network.

Nevertheless, the demand for external validators who are waiting to join the network is gradually increasing. The waiting period for a validator is six days, with a trading volume of 359,557 Ethereum, valued at approximately 1.33 billion dollars.

Amid this chaos, the number of active validators on Ethereum has settled at 1,093,671 over the past few weeks, after peaking on Thursday at 1,096,339. It is worth noting that 35.67 million Ethereum are staked on the network at the time of publication.

The optimism regarding Ethereum remains high.
The Chief Technology Officer at Bitwise, Matt Hogan, expects that the Ethereum currency "is heading towards an increase," as FXStreet previously reported, following ETH's recovery after months of poor performance.

Moreover, Coinglass data shows that the open interest volume (OI) for Ethereum reached $55.89 billion, which is close to its historical high of $57.69 billion recorded on Tuesday. The increase in open interest for Ethereum indicates rising capital flows into Ethereum derivatives, which is a sign of growing interest among traders.