According to the source, the debate centers on Ethereum’s staking exit times, which are intentionally gated by the validator churn limit to protect network security; the consensus specs define per‑epoch exit throughput as max(4, floor(active_validators/65536)). source: github.com/ethereum/consensus-specs ethereum.org/en/developers/docs/consensus-mechanisms/pos With epochs every 6.4 minutes, this implies churn_limit x 225 validator exits per day, which caps potential unlock flow. source: ethereum.org/en/developers/docs/consensus-mechanisms/pos github.com/ethereum/consensus-specs Each validator represents 32 ETH, so the maximum daily unlocked ETH equals 32 x churn_limit x 225, directly bounding short‑term supply that could reach exchanges. source: ethereum.org/en/staking/withdrawals github.com/ethereum/consensus-specs Post‑Shapella, withdrawals follow an exit queue and separate withdrawal processing; even after exit initiation, principal return timing depends on queue conditions and credential status. source: ethereum.org/en/roadmap/shanghai ethereum.org/en/staking/withdrawals For trading, these mechanics reduce the risk of sudden mass redemptions, influence LST pricing and redemption delays during stress, and should be reflected in ETH liquidity, LST discounts, and derivatives basis during heavy exit periods. source: ethereum.org/en/staking/lst ethereum.org/en/staking/withdrawals