Ethereum’s validator exit queue has surged to 644,330 ETH ($2.34 billion), its highest level in 18 months, underscoring heightened validator activity in response to market conditions.
Despite the large volume awaiting withdrawal, net staking activity remains strong with approximately 390,000 ETH ($1.2 billion) queued for staking commitments. This results in a net unstaking figure closer to 255,000 ETH, reflecting sustained interest in participation.
Concurrently, Ether’s price corrected by approximately 7% from its recent peak as traders engaged in profit-taking following a significant 50% rally. US spot Ether ETFs continued to attract substantial capital, accumulating over $2.5 billion in inflows.
Significant movements, such as Justin Sun’s $600 million ETH withdrawal from Aave, are exerting pressure on DeFi protocols, contributing to liquidity shifts and brief depegging events for tokens like Lido’s stETH.
The Ethereum network itself remains fundamentally robust. Active validators near an all-time high at 1.1 million, collectively staking 35.7 million ETH – representing nearly 30% of the circulating supply – demonstrating continued long-term commitment.