Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»The Ethereum validator exit queue surges as Celesius and Figment withdraw their stake.
ADOPTION NEWS

The Ethereum validator exit queue surges as Celesius and Figment withdraw their stake.

By Crypto FlexsJanuary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The Ethereum validator exit queue surges as Celesius and Figment withdraw their stake.
Share
Facebook Twitter LinkedIn Pinterest Email

that much Ethereum ETH

-0.18%
On blockchains, the number of validators waiting to withdraw their staked Ether is rapidly increasing. The exit queue reportedly reached 16,000 people. Data from ValidatorQueue. The queue represents over 510,000 ETH ($1.1 billion), with a maximum validator stake of 32 ETH per validator.

The processing time to complete the exit queue is 5 days, with a total withdrawal period of at least 14 days.

This comes as Celsius, which is in the process of restructuring after filing for bankruptcy protection last year, shared plans to cancel its stake in the Ethereum network to distribute assets to creditors.

Chelsea’s withdrawal request of over 200,000 ETH ($450 million) caused the validator exit queue to rise. But it seems it’s not just Celsius. According to Nansen data, only 32% of exits are in Celsius. 54% (350,000 ETH) of validators awaiting withdrawal are connected to staking provider Figment.

Tom Wan, an analyst at 21 Shares, thinks companies tagged with Figment could also belong to Chelsea. “Also, Figment’s departure is likely to be owned by Chelsea. In early June, Chelsea re-staked 197,000 ETH through Figment when she redeemed 428,000 stETH from Lido.” Wan said.. Still, not all of Figment’s withdrawals were due to Celsius, Nansen said.

According to The Block dashboard, there is currently a total of 29 million ETH staked on the network. This means that these withdrawals (about 500,000 ETH) represent about 1.7% of the total stake.

Staking Yield

Despite the surge in validators lining the exit queue, the entry queue for new validators remained close to zero, mirroring the levels observed over the past week. The time it takes to complete the exit and entry queues is based on the exit limit (13 validators per epoch) or the daily limit of 2,925 validators entering or exiting the network.

The staking yield for Ethereum validators, also known as the staking reward reference rate, is currently around 3.4%. These figures represent a decline from returns of close to 8% recorded in May 2023.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 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

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025
Most Popular

Why investors should turn to altcoins

April 20, 2024

The Devcon Scholars program returns to Devcon Southeast Asia with the goal of building a collaborative community.

June 9, 2024

Hamster Kombat HMSTR Token Launch Enhances Gaming Experience

August 9, 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.