PANews reported on November 13th that, according to The Defiant, Beaconchain data shows that the number of daily active validators on Ethereum has decreased by approximately 10% since July, reaching its lowest level since April 2024. This recent decline is the first time Ethereum has experienced such a significant drop since the network switched from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) mechanism in September 2022. The number of daily active validators recently fell below 1 million for the first time since April 28, 2024, reaching 999,203 as of November 11th.

Furthermore, as staking operators scramble to unstake funds for profitable sales, validator exit queues have reached unprecedented highs. ValidatorQueue data shows that Ethereum validators currently take approximately 37 days to unstake ETH, compared to just 1 day in May. However, validator joining times have also increased significantly in recent months, with approximately 1.2 million ETH currently awaiting staking, with a waiting time of 22 days.