The Ethereum staking queue has surged to its highest level since 2023, with 860,369 ETH worth $3.7 billion waiting to be staked, driven by institutional interest and market conditions. Everstake noted the growth in the validator queue is due to increased network confidence and more companies entering Ethereum staking.

Staking allays fears of a major sell-off as the exit queue retreats from a high, almost reaching parity with the entry queue. The blockchain has 35.7 million ETH staked, worth $162 billion, equating to 31% of the total supply. The exit queue reached an all-time high of just over 1 million ETH on Aug. 29, signaling a slowdown in unstaking Ether.

Ether corporate treasuries continue to grow, with 4.7 million ETH worth $20.4 billion purchased by over 70 participants, boosting the entry queue. ETH has declined 12.4% from its all-time high on Aug. 24 to $4,321. Retail traders are taking profits as the asset’s price drops.

Read more at Cointelegraph: Ethereum Staking Queue Hits Two-Year High, Exit Queue Drops