The latest data shows that Ethereum (ETH) has recently experienced significant changes in staking dynamics under the proof of stake (PoS) network. As of July 27, the amount of ETH waiting to exit has surged to 694,000 coins, a 360-fold increase from just 1,920 coins ten days ago. This figure even recently reached a high of 744,000 coins. Based on the current market price, the total value of these ETH in the exit process is approximately $2.64 billion.

In stark contrast, the enthusiasm for new validators seems to have cooled. While there were 435,000 ETH queued to enter the network on July 17, this number has now dropped to 220,000, approximately equivalent to $836 million.

The changes in the entrance and exit situation have led to a significant extension of network processing time. Currently, ETH holders who wish to exit staking need to wait about 12 days and 1 hour; while new validators need 3 days and 20 hours to complete their entry.

In response to this phenomenon, industry expert Andy Cronk provided his insights. As a co-founder of the staking service provider Figment, he believes that this behavior pattern is not uncommon in the cryptocurrency market. When prices rise, both retail and institutional investors tend to unstake and sell to realize profits. This cyclical behavior occurs repeatedly in the market.

As the Ethereum ecosystem continues to evolve, staking dynamics may remain a focal point of interest for investors and analysts. This data not only reflects the short-term strategies of market participants but also, to some extent, mirrors their confidence and expectations for Ethereum's long-term development.