Ethereum staking queue hits 860K ETH, highest since 2023

More than 860,000 ETH are now waiting to be staked on Ethereum's proof-of-stake network, reaching levels not seen since late 2023. This represents over $3 billion worth of cryptocurrency at current prices.

The large queue shows strong demand from people wanting to stake their ETH to help secure the network and earn rewards. However, Ethereum processes new validators slowly to maintain stability, so people may wait days or weeks before their ETH can start earning staking rewards.

When ETH is staked, it gets locked up and removed from circulation on exchanges. This reduces the amount of ETH available for trading, which could potentially push prices higher if demand continues.
ETH staking currently pays between 3.2% and 3.6% per year in rewards. While this is lower than early staking returns, the steady yield is attracting both individual investors and institutions.

Popular staking services like Lido, Rocket Pool, and Coinbase have made it easier for people to participate without running their own validator nodes.