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Ethereum co-founder Vitalik Buterin has ultimately addressed several worries regarding the extending Ethereum staking exit queue, which has now expanded to 45 days.
His reply followed Galaxy Digital’s DeFi head, Michael Marcantonio, labeling the exit queue length as “concerning” on X and contrasting it with Solana, which merely needs two days to unstake. He has subsequently removed the posts.
“Unclear how a network that requires 45 days to return assets can be deemed a fitting candidate to fuel the next phase of global capital markets.”
Nonetheless, Buterin seemingly adopted a more philosophical perspective on the matter, characterizing unstaking from Ethereum as “more akin to a soldier opting to leave the military,” adding that staking involves “assuming a solemn obligation to protect the chain.”
“Difficulty in resigning is part of the arrangement. An army cannot maintain cohesion if any fraction of it can abruptly depart at any moment.”
In summary, the network remains exceptionally secure with over a million active validators and 35.6 million ETH staked, representing nearly 30% of the total supply.
That said, Buterin recognized that the current staking queue structure was not ideal, but adjusting the constants would render the chain “significantly less reliable” for nodes that do not frequently come online.
Galaxy Digital acquired $1.5 billion worth of Solana (SOL) recently after collaborating with Multicoin Capital and trading entity Jump Crypto in a Solana treasury firm.
Galaxy Digital also became the inaugural Nasdaq-listed entity to tokenize its shares on Solana.
Related: Ethereum unstaking queue escalates ‘parabolically’: What implications does it have for price?
Countering the staking FUD
Marcantonio seems to have withdrawn the posts following backlash from others.
Former Consensys product manager Jimmy Ragosa criticized Marcantonio and Galaxy Digital, asserting that based on his direct messages, the only outcome of the “persistent ETH FUD” has been that “most players with any vested interest in Ethereum are now reevaluating their dealings with Galaxy.”
“Evidently, Galaxy had their DeFi head remove all Ethereum FUD-related content,” remarked crypto attorney Gabriel Shapiro, adding that “he was participating in profoundly misleading psychological operations.”
“Honestly, I wish it had remained up because it only showcased Ethereum favorably, both technologically and culturally, but alas.”
“I will advise folks to cease doing business with Galaxy,” declared Ethereum educator Anthony Sassano, further stating:
“Removing tweets does not alter the reality that the individual is their ‘Head of DeFi’ and lacks an understanding of the foundational aspects of this industry, focusing more on discrediting Ethereum than on the actual facts.”
Solana supporter Mike Dudas aligned with Galaxy, declaring, “individuals with a ‘vested interest in Ethereum’ are obliged to engage with inferior bankers rather than Galaxy, who have demonstrated with Solana that they can generate significant value through transactions and connect to a much broader array of stakeholders.”
Cointelegraph reached out to Marcantonio and Galaxy for feedback.
Ethereum ecosystem remains robust
The Ethereum exit queue has decreased over the last few days, but remains elevated at 2.5 million ETH. Nevertheless, a substantial portion of this originates from Kiln Finance following an exploit.
Currently, there are 512,000 ETH in the entry queue, which recently reached a two-year peak amid institutional accumulation.
Magazine: XRP to revisit highs? Bitcoin won’t remain stagnant for long: Hodler’s Digest
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