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Ethereum Staking Growth Eases Exit Queue Pressure
Ethereum’s staking ecosystem is experiencing a notable uptick, with the queue to stake ETH reaching its highest point since September 2023. Onchain data shows that 860,369 ETH, valued at around $3.7 billion, is now waiting to be staked—marking a strong vote of confidence in Ethereum’s long-term prospects.
Network Confidence and Institutional Capital Fuel Staking Demand
Staking protocol Everstake described the surge as “striking,” noting, “We haven’t seen queues of this size since 2023 when the Shanghai upgrade enabled withdrawals.” The firm attributes the spike to rising network confidence, favorable market conditions, and growing institutional participation.
“More people trust Ethereum’s long-term value and want to participate in securing it,” Everstake explained. Low gas fees and ETH’s price resilience have also made staking more accessible and attractive for both retail and institutional users.
Exit Pressure Eases as Staking Accelerates
The increase in new staking helps ease concerns sparked by the recent surge in the staking exit queue. On August 29, the exit queue hit a record high of just over 1 million ETH, leading to fears of large-scale unstaking. However, it has since dropped by 20%, suggesting the pace of withdrawals is slowing.
Currently, over 35.7 million ETH—roughly 31% of total supply—is staked, according to Ultrasound.Money, with an estimated value of $162 billion.
ETH Treasuries Double Down Amid Price Dip
Corporate and crypto-native treasuries are also expanding their ETH holdings. Data from StrategicEtherReserve shows that over 70 entities have collectively acquired 4.7 million ETH, with most opting to stake the tokens for yield.
Despite a 12.4% drop from its August 24 all-time high, ETH continues to attract long-term capital. At the time of writing, it trades at $4,321, down 1.2% on the day.
