The queue for exiting Ethereum validators reached its highest point of the year, surging 392% since the beginning of October. By October 2, approximately 850,000 to 850,736 ETH were queued for withdrawal, representing nearly 2% of the total staked supply of 43.6 million ETH across 878,000 validators.
The surge follows a security incident at MetaMask Staking reported on September 30, where 0.36 ETH in block rewards were diverted across 18 blocks. MetaMask initiated the exit of nearly 17,000 validators holding 523,000 ETH as a precautionary measure, with the process expected to conclude by October 7.
Market analysts suggest that some holders are also utilizing the current price range of $2,686 to $2,725 to secure profits. The estimated waiting period for validator exits reached 14.77 days by October 2, which distributes potential selling pressure over time rather than causing an immediate market impact.
