The validator exit queue tracks how long validators wait to leave staking. Recent readings show exits clearing in minutes, not days. This shift suggests fewer validators want to unstake during current conditions.
Lower exits can limit near-term ETH supply returning to liquid markets. When validators withdraw and sell, the exchange supply can rise and weigh on price. With the queue empty, the network shows less immediate intent to cut exposure through unstaking.
The entry side indicates the opposite flow. Over 1.3 million ETH now wait to enter staking, a level last seen in mid-November. Stakers lock ETH to earn rewards, so the build points to longer-horizon positioning.
More staking demand can tighten available ETH, although withdrawals remain possible. Macro conditions and risk appetite still drive price moves. However, the combined entry and exit picture adds a useful liquidity signal.