12-9-2025 – Ethereum’s Proof-of-Stake network faces a record exit queue of 2.656 million ETH, worth $9.03 billion, with withdrawals delayed by over 46 days. The surge is driven by staking provider Kiln’s decision to exit all its validator nodes, prompted by a hacking incident involving SwissBorg, impacting the security of its staked assets.
Kiln, managing approximately 1.6 million ETH, plans to re-stake the withdrawn funds with new validator keys rather than sell, signaling no immediate market pressure. Concurrently, the network’s entry queue holds 725,000 ETH, valued at $2.47 billion, with a 12-day, 14-hour wait for new validators. This dual movement highlights Ethereum’s active staking ecosystem, balancing security-driven exits with sustained validator interest post-Pectra upgrade.
