Market Analysis Report (19 Apr 2023)

The Ethereum blockchain currently has 575,359 validators, and approximately 5% of those validators are opting to leave Ethereum’s staking system by unstaking their ETH – a possibility after the rollout of the Shapella upgrade last week. They are, however, having to wait 17 days for their ETH to be unstaked.

Validators play a crucial role in proposing and adding transaction blocks to the Ethereum blockchain as part of the validation process. In exchange, they can receive newly minted ETH and a portion of related transaction fees.

With the Shapella upgrade, staked ETH can be withdrawn in two ways: partial and full. Partial withdrawals keep the validators running by automatically distributing the ETH to them, so they have the required 32 ETH balance. Full withdrawals stop the validator and take out the whole staked amount.

For those unstaking their funds, a voluntary exit message is first sent, which entails a 25-minute wait, according to analyst Niklas Polk. After that, they join the exit queue, which currently lasts 11.7 days. Following this phase, a withdrawal delay of approximately 27 hours occurs. Finally, after another 4.25 days, withdrawals are processed and deposited.

For those processing partial withdrawals, delays are  about 4.27 days, and these are automatically deposited into validator addresses if their unstaking credentials are properly configured

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• Source: https://www.cryptocompare.com/email-updates/daily/2023/apr/19/