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The number of validators in the Ethereum validator exit queue has reached 744,000, reaching a historical high
12hours ago

According to Odaily Planet Daily, as of July 26th, the number of Ethereum validators exiting the queue has reached 744,000, reaching an all-time high. In the previous two weeks, the average daily exit volume was reportedly only about 1,000 validators. Analysts believe this may be due to a liquidity shock on the Aave lending platform, with approximately 167,000 ETH (worth over $630 million) withdrawn from the Aave lending pool, causing the annual interest rate on wrapped ETH (wETH) lending to climb from approximately 3% to double digits. This interest rate increase has caused previously profitable leveraged trading strategies using staked ETH (stETH) to turn unprofitable, forcing traders to repay their loans and seek native ETH. (The Block)