- Validator exit queue has fallen to 32 ETH with a wait time of about one minute, essentially emptying the backlog.
- The exit queue is down roughly 99.9% from its mid-September peak of 2.67 million ETH, reducing potential unstaking pressure.
- Validator entry queue has risen to about 1.3 million ETH, the highest level since mid-November, indicating renewed staking demand.
- BitMine has substantially increased staking, adding 82,560 ETH on Jan. 3 and staking a total of 659,219 ETH (about $2.1 billion) so far.
- “No one wants to sell their staked ETH,” said Rostyk, and observers note exchange reserves and selling pressure have declined.
The Ethereum validator exit queue has dropped to 32 ETH with an estimated one-minute wait, the lowest level since July last year, according to data from Validator Queue. This fall follows a mid-September peak of about 2.67 million ETH in the exit queue and could ease selling pressure from validators seeking to exit staking positions.
The exit queue rate-limits how quickly validators can fully leave consensus to avoid sudden mass departures that might disrupt the network. Validators that request exit remain active and earn rewards while waiting, and the withdrawal queue—used for partial withdrawals of excess rewards—operates separately.
At the same time, the validator entry queue has climbed to about 1.3 million ETH, the highest since mid-November, signaling renewed interest in staking. Market participants point to large treasuries and staking vehicles driving demand to lock ETH for yield.
Asymetrix chief technology officer and ETHKyiv founder Rostyk described the exit queue as effectively cleared in his post, stating “basically empty.” In a separate post, Tevis, the founder of AlphaLedger, wrote that “ETH exchange reserves are at ten-year lows. Selling pressure is drying up, and now we’re seeing validator entry queue far outpace exit queues (driven by BitMine and ETFs staking their ETH for yield.” The comment about the exit queue was shared by Rostyk.
Large staking activity has come from BitMine, which began staking on Dec. 26 and added about 82,560 ETH (roughly $260 million) to the entry queue on Jan. 3. The firm has staked 659,219 ETH (about $2.1 billion) and holds just over 4.1 million ETH (about $13 billion) in its treasury.
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