According to @lookonchain, 893,599 ETH (about $3.96B) is currently queued for unstaking, based on validatorqueue.com metrics, source: @lookonchain; validatorqueue.com. According to @lookonchain, wallet 0x2aC9 swapped 4,242.4 stETH for 4,231 ETH (~$18.74M), which implies a roughly 0.27% stETH-ETH discount and a realized loss of 11.4 ETH (~$50.5K) based on the reported figures, source: @lookonchain. According to @lookonchain, the 4,231 ETH was then deposited to a Kraken address for sale, with the destination labeled as Kraken on the Arkham Intelligence explorer linked in the post, source: @lookonchain; Arkham Intelligence.

According to @KookCapitalLLC, 826,000 ETH is currently in Ethereum's unstaking queue, indicating a sizable backlog of pending validator exits, source: @KookCapitalLLC. Ethereum processes validator exits under a protocol churn limit that restricts how many validators can withdraw per epoch, meaning large queues are cleared progressively over multiple days rather than instantly, source: Ethereum.org. Longer exit queues can extend redemption times for liquid staking tokens and staking providers, impacting LST liquidity profiles and withdrawal wait times, source: Lido Docs. On-chain market participants track staking inflows and outflows as inputs for near-term ETH supply dynamics and liquidity monitoring, source: Glassnode.