Ethereum Staking Queue Hits 50 Days as 3M ETH Waits
Ethereum's staking queues reveal a striking imbalance: while nearly 3 million ETH awaits entry over 50 days, the exit queue remains nearly empty. Total staked ETH has surpassed 38 million, or 31% of total supply.
Key Takeaway
Strong staking demand and empty exit queues signal conviction despite institutional shorts dominating derivative markets.
Analyst Sjuul AltCryptoGems pointed to a clear imbalance in Ethereum's staking queues: nearly 3 million ETH is waiting to be staked, with the entry queue stretching to around 50 days, while the exit queue is almost empty. He said very few participants are withdrawing their holdings.
The 2.7% annual yield for staking continues to attract deposits despite current price weakness. Since the Shanghai/Capella upgrade in 2023 enabled withdrawals for the first time, 30 million ETH has been deposited versus 17 million withdrawn, showing net deposits continue to outpace withdrawals.
Hedge funds significantly reduced their long ETH positions about two weeks ago, particularly on Coinbase Derivatives, crypto investor CW said. He argued that a meaningful full-scale rally will begin when hedge funds turn bullish. Current estimates put high-leverage long positions at ₱66.86 billion ($1.1 billion) compared to approximately ₱256.5 billion ($4.22 billion) in short positions.
A price increase of ₱6,078 ($100) would trigger short position liquidations, but institutional money remains on the sidelines. The growing use of liquid staking may explain why validator entry queues persist while deposits continue — stakers can lock ETH without adding validators directly.
The disconnect between network participation and price action shows in the numbers: staked supply represents 31% of total ETH while short positions outnumber longs by nearly four to one, with ₱256.5 billion ($4.22 billion) in shorts dominating derivative markets.
This article was written based on reporting from NewsBTC.
