Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ETHEREUM NEWS»Ethereum staking exit queue hits record high amid Celsius unlock.
ETHEREUM NEWS

Ethereum staking exit queue hits record high amid Celsius unlock.

By Crypto FlexsJanuary 6, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum staking exit queue hits record high amid Celsius unlock.
Share
Facebook Twitter LinkedIn Pinterest Email

The Ethereum network is experiencing a surge in validator exits, with the number of validators in the exit queue reaching an all-time high of over 16,000 on January 5, according to on-chain data.

As churn increased, unstaking wait times jumped to an average of 5.6 days. As of press time, approximately 15,140 validators are still in the queue.

The surge was mainly driven by withdrawal requests from defunct CeFi lender Chelsea Network and staking provider Figment, which accounted for around 75% of all withdrawals in the queue.

550,000ETH

Celsius, which is currently undergoing restructuring procedures after declaring bankruptcy last year, has begun a large-scale withdrawal from Ethereum staking.

The move, aimed at redistributing assets to meet creditors’ demands, includes the withdrawal of over 200,000 ETH, worth approximately $450 million.

The situation was made even worse by the intervention of Figment, another major staking provider, which was tied to 54% (350,000 ETH) of the total withdrawals in the queue.

Together, the two organizations want to withdraw approximately 550,000 staked Ethereum. This represents approximately 1.7% of the 29 million ETH staked across all platforms.

Items are drying out

Even amid this significant churn, the entry queue for new Ethereum validators remains noticeably low, close to zero. This is in stark contrast to the swelling numbers in exit queues.

The Ethereum network operates with exit restrictions, which limits the number of validators who can enter or leave the network per day to 2,925, based on 13 validators per epoch.

The surge in withdrawal requests also affected the staking returns of Ethereum validators. As of press time, the staking reward reference rate was approximately 3.4%, down more than 50% from the nearly 8% return recorded in May 2023.

This significant change in validator dynamics poses potential challenges to the stability of the Ethereum network, given the critical role of validators in securing and processing transactions.

Meanwhile, unstaking wait times have lengthened to an average of 5.6 days, raising concerns about the network’s ability to handle large-scale exits.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025
Most Popular

GoCryptoBet.com Betting | How to Bet Smarter with Crypto?

February 8, 2025

Would you send a selfie to watch porn? UK considers ways to restrict age on adult sites

December 5, 2023

Best Cryptocurrencies to Buy Now on March 3 – XRP, Cronos, Cardano

March 4, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.