Ethereum’s staking network is under growing strain as validator withdrawals climb to record levels, testing the system’s balance between liquidity and network security.
Recent validator data shows that over 2.44 million ETH, valued at more than $10.5 billion, are now queued for withdrawal as of Oct. 8, the third-highest level in a month.
This backlog trails only the 2.6 million ETH peak recorded on Sept. 11 and 2.48 million ETH on Oct. 5.
According to Dune Analytics data curated by Hildobby, withdrawals are concentrated among the leading liquid staking token (LST) platforms like Lido, EtherFi, Coinbase, and Kiln. These services allow users to stake ETH while maintaining liquidity through derivative tokens such as stETH.
As a result, ETH stakers now face average withdrawal delays of 42 days and 9 hours, reflecting an imbalance that has persisted since CryptoSlate first
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Author: Oluwapelumi Adejumo
