Ethereum’s staking entry queue reached its highest level since 2023 as institutional demand and confidence surged, while the exit queue is declining.
The amount of Ether in the queue to be staked has surged to its highest level since 2023 as institutional traders and crypto treasury firms aim to scoop rewards for their holdings.
On Tuesday, the Ethereum staking entry queue reached its highest level since September 2023, with onchain data showing 860,369 ETH, worth around $3.7 billion, waiting to be staked.
“Honestly, this is pretty striking, because we haven’t seen queues of this size since 2023 when the Shanghai upgrade enabled withdrawals,” staking protocol Everstake said.
