Ethereum exit queue hits Record $5B ETH, raising Sell Pressure concerns

Ethereum is seeing the largest validator exodus in crypto history, with over 1 million Ether tokens currently waiting to be withdrawn from staking through Ethereum’s proof-of-stake (PoS) network.

Ethereum’s exit queue surpassed 1 million Ether (ETH) worth $4.96 billion on Thursday. This marks the amount of Ether set for withdrawal by the network’s validators, who are responsible for adding new blocks and verifying transactions in proposed blocks, playing a vital role in the functioning of the blockchain network.

The mass exodus has extended the…