Ethereum validator exit queue size reaches all-time high

PANews reported on July 29th that, according to TheBlock, as of July 26th, the number of Ethereum validators exiting the queue had reached 744,000 ETH, reaching an all-time high. In the previous two weeks, the average daily exit volume was only approximately 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may be due to a liquidity shock on the Aave lending platform, with approximately 167,000 ETH (worth over $630 million) withdrawn from the Aave lending pool, causing the annual interest rate on wrapped ETH (wETH) lending to climb from approximately 3% to double digits.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 rising interest rate turned previously profitable leveraged trading strategies using staked ETH (stETH) into losses, forcing traders to repay their loans and seek native ETH.