Ethereum staking queue has reversed for the first time in 6 months, indicating a strong resurgence in ETH locking demand. Currently, approximately 745.619 ETH are queued for staking with an average wait time of nearly 13 days, almost double the 360.518 ETH waiting to be withdrawn from the network. The reversal occurred over the past weekend, and the queue to join continues to grow rapidly, while the withdrawal queue is forecasted to drop to 0 by 01/03.
According to Abdul, Head of DeFi at Monad, the withdrawal queue is an early indicator of selling pressure for ETH, and its decline could help cool the market. He estimates that about 5% of the ETH supply has changed hands since July, mostly absorbed by BitMine and staked.
Some opinions suggest that digital asset treasury companies accumulating ETH, along with the Pectra upgrade improving staking experience and DeFi leverage reduction activities, are key factors driving this trend.
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The ETH validator queue suddenly doubles the withdrawal queue.
Ethereum staking queue has reversed for the first time in 6 months, indicating a strong resurgence in ETH locking demand. Currently, approximately 745.619 ETH are queued for staking with an average wait time of nearly 13 days, almost double the 360.518 ETH waiting to be withdrawn from the network. The reversal occurred over the past weekend, and the queue to join continues to grow rapidly, while the withdrawal queue is forecasted to drop to 0 by 01/03.
According to Abdul, Head of DeFi at Monad, the withdrawal queue is an early indicator of selling pressure for ETH, and its decline could help cool the market. He estimates that about 5% of the ETH supply has changed hands since July, mostly absorbed by BitMine and staked.
Some opinions suggest that digital asset treasury companies accumulating ETH, along with the Pectra upgrade improving staking experience and DeFi leverage reduction activities, are key factors driving this trend.