The recent surge in Ethereum validator exit queue coincided with a price drop of over 7%.
Surge in Validator Exit Queue
The exit queue for validators wishing to exit Ethereum's staking system has reached an 18-month high, leading to a significant increase in the number of those waiting. According to staking protocol Everstake, currently, 644,330 ETH is lined up for exit, equating to approximately $2.34 billion, with an 11-day waiting period.
Decline in Ether Price
The price of Ether has fallen by 7% from a seven-month high of $3,844, dipping below $3,550. At the time of writing, it has slightly recovered to $3,643, remaining over 50% higher compared to the previous month.
Asset Dynamics and Interest in Ethereum
The number of active validators has reached an all-time high, just below 1.1 million, and the total staked assets amount to approximately 35.7 million ETH. Meanwhile, there is significant interest in Ethereum from ETFs, with over $2.5 billion in net inflows over the past six trading days.
The current situation in the Ethereum market, marked by increasing withdrawal queues and price drops, highlights the dynamics of interest from both validators and institutional investors.
