Ethereum may be on the brink of another correction. The queue of validators wanting to exit staking has sharply increased, and in the two previous instances, such a surge preceded a decline in the ETH price of more than 15%. Crypto influencer Carl Runefelt (nicknamed Carl Moon) noted that the current situation mirrors the scenarios of May and June 2026.
The queue reflects the volume of ETH that validators want to withdraw from staking. Its growth indicates that large holders are preparing to unlock coins, and some of these funds may hit the market. According to the chart from ValidatorQueue.com, at the beginning of October, the queue jumped to about 800,000 ETH – the highest since late 2025. The May peak was around 500,000 ETH, and the June peak was about 400,000 ETH. Throughout the summer, the figure remained almost at zero, with a sharp increase beginning in late September. A year earlier, the queue was more impressive: from September to November 2025, it contained between 2 to 2.5 million ETH, dropping to nearly zero by January.
The last two surges in 2026 – in May and June – both ended with ETH declining by at least 15%. The third such jump, according to Runefelt's logic, increases the chances of a repeat. However, he does not specify particular price targets or timelines for a potential decline. The growth of the queue does not necessarily imply immediate sales: validators may withdraw ETH for restaking, transferring to other protocols, or partial profit-taking. The correlation in the two cases is too short a history to consider it a reliable indicator.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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