The Ethereum staking mechanism is experiencing a significant backlog, with exit queue wait times exceeding 14 days. According to Beaconchain data, currently over 831,056 ETH are waiting to be withdrawn from the network’s validator queue, adding up to an average wait time of 14 days and 10 hours. This surge in unstaking activity is causing ripple effects throughout the Ethereum ecosystem. While Bitcoin maximalist Samson Mow has commented on the matter, stating that a “flippening” scenario remains unlikely, he predicts increased ETH/BTC volatility as a consequence of this movement. The volume of ETH waiting to be withdrawn from the network has also been highlighted by Arthur Hayes, BitMEX founder, who mentioned 768,400 ETH in his exit queue. This amount is currently worth approximately $3.5 billion. The reason behind this mass unstaking is still being debated. Speculation points towards the end of leveraged staking cycles and rising funding and borrowing costs, which has led some investors to liquidate their positions. 831,056 ETH in the exit queue represents a potential market shift of over $3.5 billion and is prompting further analysis into this sudden surge. This information is provided for informational purposes only; it should not be construed as investment advice.