The number of queued ETH withdrawals on Ethereum has exceeded 2 million, mainly due to Kiln's precautionary risk management.

Jinse Finance reported that according to Ethereum Validator Queue data, the current number of ETH in the Ethereum network's withdrawal queue has increased from over 600,000 yesterday to more than 2.14 million, far exceeding the 800,000 ETH in the staking queue. Some market sources believe that stakers are preparing to sell ETH by withdrawing it. Jinse Finance investigated the reason and found that the newly added over 1 million ETH in the withdrawal queue mainly comes from node operator Kiln, which is taking precautionary risk-avoidance measures. After the Solana node entrusted to Kiln by the Swiss platform SwissBorg was hacked for $41 million worth of SOL, Kiln announced on the 9th that it is taking additional preventive measures to ensure the safety of client assets across all networks. As part of its response, Kiln has begun to orderly exit all of its ETH validators. According to data on Dune, Kiln has staked over 1.62 million ETH on its platform, accounting for 4.5% of the Ethereum staking market share.