From the start of the battle, Queenie had been burning her blood to boost her strength, speed, and stamina. And it was working quite well.
In fact, she had made headway by leaving countless cuts on the Ant King.
And as someone with a high affinity for blood simply because she is an Asura Born, every small cut on the Ant King wasn't healing like the Ant King would have liked.
This was simply Queenie's doing.
The main reason Asura Borns are undying in battle is because of the blood. The more cuts they inflict on their opponents, the more confident they grow in being able to take them down.
Every time a cut appeared, the next sword strike would be amplified by the blood coming out of the previous cuts.
She was using the blood to create openings in the defense of the Ant King. So every single strike had its mark, and Queenie was exploiting this weakness.