Ethereum validator exit queue to spike as Kiln moves tokens
Ethereum educator Anthony Sassano expects a significant amount of Ethereum to be restaked using new validator keys, rather than being sold.
The Ethereum validator exit queue may spike in the coming days, but crypto market participants have little to worry about, says Ethereum educator Anthony Sassano.
“This ETH will presumably be restaked using new validator keys, aka it’s not going to be sold,” Sassano said in an X post on Tuesday, citing Kiln Finance’s announcement following a hack of a Switzerland-based crypto wealth management platform, SwissBorg.
A large volume of Ether (ETH) being unstaked is sometimes considered a bearish indicator, as traders may fear it signals upcoming selling pressure. The ETH exit queue is sitting at 1,628,074, according to ValidatorQueue data. Approximately 35.5 million ETH is staked, roughly 29.36% of the total supply.