Ethereum's Validator Waitlists Are Now Empty

Both Ethereum's entry and exit queues are empty.

By: Samuel Haig Loading...

Ethereum’s validator queues are empty, meaning no prospective ETH stakers currently waiting to come online.

The metric indicates demand from new validators no longer exceeds the churn-rate for onboarding, with 12 validators able to come online every epoch (6.4 minutes).

The queue first emptied on Oct. 13, according to Validator Queue. Ethereum developers are currently exploring reducing the churn-rate of validator onboarding.

However, the exit queue for stakers is also empty, illustrating that Ethereum stakers are eager to continue collecting rewards in exchange for securing the network.

The milestone attracted attention on social media, with pundits emphasizing both the drop in demand from new validators and the lack of selling from existing stakers.

Queue for Ethereum validator onboarding and withdrawals. Source: Validator Queue.

The news follows a big year for Ethereum, with the completion of the network’s transition to Proof of Stake last September preceding a rush of stakers coming online. Nearly 80,000 validators were still waiting to come online as August began, equating to a wait-time of 33 days.

Ethereum’s Shapella upgrade also enabled stakers to exit their position and withdraw their stake for the first time in April. However, Ethereum’s exit queue has largely remained low after an initial rush, with wait times for validator withdrawals exceeding an entire on just one occasion in the past four months.