According to the source, 2,168,091 ETH is queued to unstake with an estimated 37-day wait, signaling a congested validator exit queue. source: the source. Ethereum exit times are governed by the churn limit that scales with total validators, so heavy exit demand directly lengthens withdrawal timelines. source: Ethereum.org staking and withdrawals documentation. A prolonged exit queue can slow LST redemptions and increase the risk of temporary discounts or wider spreads for stETH, rETH, and cbETH versus ETH in secondary markets. source: Lido documentation, Rocket Pool documentation, Coinbase cbETH documentation. Sustained validator exits can reduce the active validator set, which can lift staking APR for remaining validators and alter LST yield expectations that traders price into basis and swaps. source: Ethereum.org staking rewards reference. Traders should monitor beacon chain exit-queue dashboards and LST secondary market pricing to time liquidity releases and potential basis shifts around projected withdrawal completion windows. source: Beaconcha.in validator withdrawals dashboard, Rated Network validator metrics.

According to @rovercrc, the ETH exit queue is spiking (source: @rovercrc). If confirmed on-chain, a larger exit queue reflects more validators initiating full exits, making their staked ETH eligible for withdrawal after protocol-defined delays (source: Ethereum.org validator lifecycle). Exits and withdrawals are throttled by the validator churn limit and the withdrawal queue, smoothing the release of ETH over time rather than all at once (source: Ethereum Consensus specifications). For trading monitoring, on-chain dashboards provide real-time exit queue length, withdrawable ETH, and exchange inflow metrics to gauge near-term supply dynamics (source: beaconcha.in; source: Nansen).