Waiting for withdrawal of Ethereum, extended to about 17 days ── Staking ETH increased | coindesk JAPAN | Coindesk Japan

The queues are getting longer — Validators who requested withdrawals after last week’s “Shanghai” upgrade waited more than 17 days to withdraw staked Ethereum (ETH), according to blockchain analytics firm Nansen. There must be. Last weekend was around the 14th.

Currently, there are 28,436 validators waiting for unstaking requests, that is, waiting for withdrawals.

There are 575,359 validators on the Ethereum blockchain (according to Nansen), which means about 5% of validators want to exit the staking process.

Nansen

However, it is necessary to go through multiple processes before leaving.

Nansen analyst Niklas Polk said validators would first send an exit message. I have to wait here for 25 minutes. The validator then joins the exit queue. Currently waiting for 11.7 days. Once out of the queue, the withdrawal process is delayed by about 27 hours. Then, after another 4.25 days, the actual withdrawal will be processed and deposited.

Partial withdrawals, on the other hand, only take about 4.27 days. A partial withdrawal refers to withdrawing only a portion of the rewards a validator has staked and leaving the ETH staked to participate in the validation process.

ETH staking remains popular

Since “Shanghai”, staking has been lifted, and more than 1 million ETH have been withdrawn. Cryptocurrency exchange Kraken, which was forced to suspend its staking services as part of a settlement with the U.S. Securities and Exchange Commission (SEC), now accounts for about 43% of the withdrawal queue, according to Nansen. .

Meanwhile, over the past 24 hours, more ETH has been deposited than withdrawal requests, with staking ETH up 86,000 ETH, up about 0.3%. Investors appear to have faith in the Ethereum blockchain staking process.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Nansen
｜Original: Ethereum Unstaking Requests Now Face About a 17-Day Wait