Ethereum (ETH)
Ethereum is an open-source Layer 1 blockchain designed to enable decentralized applications. The network is secured using a Proof-of-Stake (PoS) consensus mechanism, and its native token, ETH, allows token holders to collect protocol staking rewards for helping secure the network.
Ethereum Validator Queue
Entry Queue
ETH: 155,944
Wait: 2 days, 16 hours
Exit Queue
ETH: 2,421,626
Wait: 42 days, 1 hours
Network
Active Validators: 1,036,019
Staked ETH: 35.77M
Last updated: 5 minutes ago
Source: Beaconcha.in
ETH Validator Queues Explained
The exit and activation queues are built-in safeguards that rate-limit activity and protect network stability. They indicated the waiting period to stake or unstake ETH Validators. Stakers can earn rewards in the exit queue, but don’t in the entry queue. These metrics are network-wide, not Figment-specific.
ETH Validator Queues FAQ
Why are the queues getting a lot of attention?
The exit queue spiked to 46 days on September 13, 2025. That’s a 370% increase since August 13 at 9.86 days. July 13, it was 0.01 days.
What happened?
This exit queue spike on September 13 was triggered by a large validator exit following recent industry security incidents. Figment’s infrastructure and client assets were not affected. This large exit will likely create downstream impacts on the entry queue next.
The infrastructure provider took the decision to exit all of their ETH validators as a security precaution and as result around 1.6 million ETH (~$7 Billion) entered the exit queue to withdraw, taking the total exit queue to about 2.64 million ETH. This large exit of validators at the same time, caused the exit queue to reach its historical peak.
Who is impacted?
- Stakers with the impacted service provider whose ETH has been involuntarily exited
- ETH holders who plan to stake or unstake any amount in the next 60 days
- Note: Existing staked ETH at Figment is unaffected by the queue sizes
What does this mean?
Ethereum is functioning as designed. The exit and activation queues are built-in safeguards that rate-limit activity and protect network stability. The tradeoff is longer wait times to stake and unstake.
How does the validator exit queue work?
The length of the ETH exit queue depends on the amount of Ether (ETH) exiting at any one time and the validator churn limit, which is capped at 256 ETH per epoch (6.4 minutes), this is how much ETH can enter or exit at a given time.
This means only 56,700 staked ETH can exit per day, so if hundreds of thousands request exits at once, the queue can stretch into weeks, or in this case over a month. On top of this, validators face a withdrawal delay after exiting, further extending the time before ETH becomes liquid. Altogether, the queue ensures the orderly unbonding of ETH delegated to validators.
The current ETH exit queue peaked at 46.4 days as of September 13. This is the longest that it has been since Ethereum transitioned to Proof-of-Stake in September 2022.
What are the potential implications for asset managers?
The mechanisms of the entry and exit queues are part of the Ethereum protocol, and on their own, should not be cause for asset manager or token holder concern. These queues also ensure predictable validator turnover, giving the protocol time to adjust while maintaining decentralization and resilience.
In short, the entry and exit queues act as safety valves for Ethereum’s Proof-of-Stake system. By limiting how many validators can join or leave per epoch, they prevent sudden surges in participation or mass exits that could destabilize the network, compromise security, or disrupt consensus.
Tokenholders should ensure they are tracking these exit queues to be aware of the time it will take for their ETH to be “unlocked” if they are looking to sell. The length of the exit queue will impact their time to liquidity and how long before they can sell their ETH, if that is their reason for undelegation. Ultimately, the length of the exit queue impacts liquidity.
In parallel, asset managers or token holders should be watching the impacts on the ETH validator entry queue. The faster ETH is staked, the faster stakers begin earning. This is likely to grow as corporate treasuries, ETFs and much of the 2.6 million ETH currently exiting looks to restake and get into the queue first to get staked and earn rewards. We may even see some acceleration of staking to get ahead of what is expected to be a growing queue.
How is the industry responding to the ballooning exit queue?
Figment remains true to our “safety over liveness” approach: helping our clients maximize rewards and ensuring that institutions transitioning between staking providers do not trade one security issue for another.
- Risky new solutions are emerging that promise to “jump the queue” or offer “pre-activated validators,” but they carry significant security vulnerabilities.
- These models require the provider — not the client — to control the validator withdrawal address at the outset, giving them ongoing access and control even if they “transfer” it.
- That breaks the core principle of self-custody in non-custodial staking.
- These models can also trigger unique tax and compliance considerations.
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Price
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Reward Frequency
Activation
Withdrawal
Slashing Penalties Enabled
Why Stake Ethereum With Figment?
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The Ethereum mainnet went live on July 30, 2015
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Largest PoS Blockchain by Market Cap
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Staking withdrawal functionality was enabled in Q2 2023 with the successful Shapella upgrade
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Longest running smart contract platform
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Largest pool of staked assets among all networks $34B
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The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.The exit and activation queues are built-in safeguards that rate-limit activity and protect network stability. They indicated the waiting period to stake or unstake ETH Validators. Stakers can earn rewards in the exit queue, but don’t in the entry queue. These metrics are network-wide, not Figment-specific.
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