Ethereum Validator Exit Queues Surge to Highest Level Since January 2024 Amid $1.92 Billion ETH Withdrawals
Main Idea
Ethereum validator exit queues have surged to their highest level since January 2024, with $1.92 billion worth of ETH awaiting withdrawal, while entry queues also show significant delays due to institutional interest.
Key Points
1. Approximately 519,000 ETH ($1.92 billion) is queued for exit, the largest backlog since January 2024, causing withdrawal delays exceeding nine days.
2. Despite the high exit activity, the market is not experiencing significant disruptions.
3. Around 357,000 ETH ($1.3 billion) is queued for entry, with admission delays surpassing six days—the longest since April 2024.
4. The entry queue surge is partly driven by institutional interest, following the SEC’s clarification on staking regulations.
5. The total number of validators has increased by 54,000 since late May, reaching a record high near 1.1 million.
Description
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