Ethereum validator exit queue hits all-time high amid Aave liquidity shock

Ethereum’s validator exit queue surged to a record 744,000, up from fewer than 1,000 daily just two weeks ago, according to The Block. The spike was driven by Aave’s soaring wETH borrowing rates, which disrupted leveraged staking strategies and forced large holders to unwind positions. EigenLayer’s deposit cap reopening also contributed, as operators exited validators to restake ETH. The congestion is expected to ease as Aave rates normalize.