Ethereum’s validator exit queue surged to an 18-month high, with $2.3 billion worth of ETH awaiting unstaking. Price dipped as validators balance profits and network roles.
Ether slipped more than 7% from its 2025 peak as the queue to exit Ethereum’s validator system surged to an 18-month high. Around 644,330 ETH, valued at approximately $2.34 billion, now waits in line to be unstaked, causing an extended withdrawal delay near 11 days, according to ValidatorQueue data. This marks the longest exit queue since January 2024, when ETH saw a 15% price fall.
Ethereum's proof-of-stake model requires validators to lock their ETH to secure the network. Exiting this validator role involves joining an exit queue, and recently, that queue has grown sharply. Staking service Everstake noted, "The number has absolutely surged in past few days," highlighting the current exodus.
Rising Exit Queue: Profit Taking or Strategic Move?
The swelling exit queue has triggered concerns of a sell-off, but it may not indicate panic. Everstake emphasized this is not a collapse or fear-driven event but rather a "shift" in validator behavior. Many exiting validators appear prepared to "restake, optimize, or rotate operators," rather than abandoning the network altogether.
Investors may also be locking in profits after Ethereum’s strong 160% rally over recent months. A representative from Everstake remarked, "Some stakers are preparing to sell, which might create short-term sell pressure and a possible price correction"—aligning with the dip in ETH’s price to below $3,550 from its high near $3,844 earlier this week.
Despite the exit surge, the entry queue into Ethereum’s validator system remains robust, with about 390,000 ETH ($1.2 billion) waiting to join. Since early June, institutional treasury firms like SharpLink and Bitmine have aggressively increased ETH staking, showing strong demand for staking yields continues.
Everstake’s X account (@eth_everstake) commented, “The rise in exit queue reflects active portfolio rebalancing, not a mass desertion. Validators are repositioning, not quitting,” reinforcing the notion of strategic validator rotations rather than panic selling.
Market Effects and Network Activity
ETH’s current total staked amount has reached a record near 35.7 million ETH, almost 30% of Ether’s total supply, supporting network security despite the exit queue spike. The number of active validators stands near an all-time high, just below 1.1 million.
Simultaneously, strong demand from US spot Ether ETFs has resulted in over $2.5 billion inflows in the past week alone, evidencing continued institutional interest. Meanwhile, recent high-profile withdrawals — such as the $600 million ETH exit from the Aave platform by Tron founder Justin Sun — caused a brief disruption in liquid staking tokens like stETH, contributing to some market turbulence and probably amplifying the exit queue.
Ethereum’s price remains volatile, currently trading around $3,640 after retracing from recent highs. Technical support levels to watch are $3,470 and $3,220, as profit-taking pressure may continue to influence short-term price action.
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Ethereum Exit Queue Hits 18-Month High, ETH Slips
ETH falls 7% as 644K coins wait in Ethereum validator exit queue, marking longest delay since Jan 2024 amid profit-taking and staking rotations.