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Ethereum Withdrawal Queue Reaches 2.6 Million ETH with a 44-Day Wait—Is a $12 Billion Sell-Off Imminent?

Comprehensive Analysis on Ethereum’s Unprecedented Validator Exodus

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Ethereum’s Massive Validator Exit: Unprecedented in History

Ethereum is encountering a historic validator exodus, with over 2.6 million ETH, valued at more than $12 billion, entering the withdrawal queue. Data from ValidatorQueue.com reveals an unexpected rise in the exit backlog. Consequently, investors are now facing a lengthy wait of over 44 days for their ETH to be fully unstaked. This surge in withdrawals is sparking concerns about potential selling pressure and its impact on Ethereum’s price.

Record-Breaking Validator Exit Queue

According to ValidatorQueue.com, approximately 2.6 million ETH are lined up for unstaking, marking the largest exit queue ever recorded. This figure surpasses any previous periods of validator withdrawals since Ethereum’s transition to a proof-of-stake system in September 2022. At its zenith, the ETH in the queue was valued at around $12 billion.

ValidatorQueue’s chart data indicates a growing trend of validators unstaking their ETH, as evidenced by a sharp increase since mid-August. Analyst MartyParty remarked on X, highlighting the “parabolic” nature of the Ethereum staking exit queue. This large-scale withdrawal underscores increasing apprehension among stakers, particularly institutional participants and significant staking providers, who appear to be driving these mass exits.

The exit queue has seen a marked and noticeable rise in recent months. This trend began in July 2025, with the average ETH awaiting unstaking skyrocketing from under 10,000 ETH to about 250,000 ETH within days. By month’s end, the queue surged past 740,000 ETH. August mirrored this trend, with queue numbers averaging around 800,000 ETH before surpassing 1 million ETH by month’s end.

In September, the queue numbers more than doubled, peaking at 2.63 million ETH last week. Presently, over 2.4 million ETH are waiting to exit the network, with validators enduring an estimated 43 days and 3 hours of wait time before completing their unstaking process.

Potential Impact on Ethereum’s Market Value

With more than $12 billion in ETH queued for withdrawal, the pressing question is whether this will instigate considerable sell pressure on exchanges. Should these withdrawals be liquidated, Ethereum’s price might face downward pressure, potentially hindering the cryptocurrency’s recent rally.

However, it’s important to note that not all unstaked ETH may be sold on the open market. Some of it might be reallocated into restaking protocols or Spot Ethereum ETFs. Conversely, ETH staking has seen a significant decline. As of the current writing, 451,950 ETH are awaiting staking entry, a 53% drop from 959,717 ETH on September 5.

Currently, Ethereum is trading at $4,572, reflecting a 2.1% increase over the past 24 hours.

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Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories. I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology. My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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