Summary
The waitlist for Ethereum validators looking to exit the network has decreased to just 13, down from a record high of 16,766 two weeks ago. This decrease is attributed to Celsius, a failed centralized crypto lender, announcing plans to unstake its significant Ether holdings. Celsius sent $125 million worth of ETH to exchanges, including $95.5 million to Coinbase, to presumably sell. Despite these transfers, Celsius still holds $1.37 billion worth of Ether in its wallets.
Key Points
1. The waitlist for Ethereum validators looking to exit the network has significantly decreased after reaching a record high of 16,766 on January 5. Currently, only 13 stakers are waiting to leave the network.
2. The network offboards validators at a rate of 13 every epoch, with each epoch lasting for 6.4 minutes. This process has allowed the waitlist to clear up and reduce the number of validators waiting to exit.
3. Celsius, a centralized crypto lender that filed for bankruptcy in July 2022, has announced plans to unstake its ETH holdings. The company is recalling and rebalancing its assets in preparation to distribute them to creditors. Despite recent transfers, Celsius still holds $1.37B worth of Ether in its wallets.