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Ethereum PoS Validator Demand Hits Highest Since Sept. 2023 — Queues Expand

On-chain data shows Ethereum’s staking queue has risen to 860,369 ETH, valued at $3.7 billion, with 35.7 million ETH already staked, marking the highest waitlist since September 2023.

ETH

Summary

Ethereum’s staking queue surged to 860,369 ETH (~$3.7 billion), the highest level since September 2023. A total of 35.7 million ETH, worth about $162 billion, are already staked, representing 31% of the total supply. The increase follows a record-high exit queue of over 1 million ETH on August 29, which has since declined by 20%, reflecting reduced withdrawal activity.

Terms & Concepts
  • Proof-of-Stake (PoS): A consensus mechanism where validators stake cryptocurrency to help secure the network and process transactions, earning rewards for participation.
  • Staking Queue: The waiting list of ETH deposits pending activation as validators; its size reflects demand for staking participation.
  • Exit Queue: The list of validators waiting to withdraw their staked ETH, which determines how quickly funds can be exited from staking.