Analysis: Under the impetus of institutional accumulation, the Ethereum staking pending queue has surged to its highest level in two years

ChainCatcher news, according to Cointelegraph, as institutional traders and cryptocurrency savings companies seek to earn rewards on their held assets, the amount of Ethereum waiting to be staked has surged to its highest level since 2023.

On Tuesday, the Ethereum staking entry queue reached its highest level since September 2023, with on-chain data showing that 860,369 ETH (worth approximately $3.7 billion) are waiting to be staked. After the staking exit queue hit a historic high of just over 1 million ETH, the entry and exit queues have nearly balanced for the first time, followed by a 20% decrease in the exit queue, indicating a slowdown in Ethereum withdrawals. Data from Ultrasound.Money shows that 35.7 million ETH have been staked on the blockchain, worth approximately $162 billion, accounting for 31% of the total supply.