Ethereum staking withdrawals surge as Celsius initiates mass unstaking

Ethereum Validator Backlog: Over $1.09 Billion Worth of ETH Set to Be Unstaked

The Ethereum blockchain is currently experiencing a significant event in its history, with a mass exit event occurring in the validator queue. According to on-chain data, there is currently an exit queue of 15,358 validators, with an expected wait time of five days and four hours. This means that validators who attempt to exit now will have to wait for this duration before they can retrieve their 32 ETH. Moreover, the collective value of ETH set to be removed from the Ethereum validator chain is estimated to be over $1.09 billion.