Ethereum's exit queue in the Proof-of-Stake network has reached record levels, causing concern over liquidity and impact on DeFi.
Increase in Ethereum's Exit Queue
On July 27, 2025, Ethereum's exit queue for its Proof-of-Stake network reached a record level of 699,800 ETH after peaking at 743,800 ETH earlier this month. This significant increase raises concerns about liquidity and market stability.
Withdrawal Delays Exceed 12 Days
The Ethereum exit queue rose from 1,920 ETH on July 16 to 743,800 ETH on July 26, with the current figure at 699,800 ETH. Withdrawal delays have surpassed normal periods by more than 12 days, indicating tension among network participants. This escalation significantly affects the Ethereum ecosystem, hindering liquidity flows.
Staking Derivatives Under Pressure
Currently, the size of the Ethereum PoS exit queue exceeds prior withdrawal periods, confirming a 12-day delay not seen since the Shanghai/Capella upgrade in 2023. Staking derivatives like stETH and rETH are under pressure, as DeFi protocols relying on these assets are also affected.
The observed situation with Ethereum's exit queue points to potential financial adjustments and challenges for liquidity management in DeFi applications, necessitating close scrutiny from market participants.
