#ETH The staking rate has hit an all-time high! But there’s a surprising twist 🔥
Ethereum recently posted a fascinating figure: its staking rate has hit a new all-time high of 36.3%. That means more than a third of all circulating ETH is locked up, with more and more holders choosing to stake for the long term rather than trade back and forth.
More than 910,000 ETH are now waiting in the staking queue. If you want to join, you’ll have to wait about 16 days and 7 hours. Meanwhile, more than 260,000 ETH are waiting to exit staking. Including the fixed withdrawal delay, it’ll take roughly 12–13 days for them all to leave.
Interestingly, the entry and exit queues share a single rate limit, with a fixed number of withdrawals processed in each cycle. Once a queue builds up, wait times get longer. It’s clear that right now, enthusiasm for staking is significantly stronger than the desire to unstake and exit.
The overall trend is strong! Around 42.1 million ETH was staked in mid-August; now that figure has climbed to about 44.5 million. The share of ETH staked has risen to 36.5%, with growth continuing since late October.
The famed BitMine is a major staker, holding a total of 6.07 million ETH, of which 5.22 million has been staked. Its staking validation business alone generated $121.4 million in revenue, accounting for 97% of its total revenue. By some estimates, this stake could also earn roughly $309 million in staking rewards each year. SharpLink has also benefited significantly, accruing 31,363 ETH in staking rewards while using Lido liquid staking to obtain wstETH.
However, there’s a counter-signal worth watching ⚠️. The number of active validators hasn’t risen along with the staking enthusiasm; instead, it’s been declining. Before mid-September, active validators held steady at around 900,000, peaking at nearly 912,000. Since then, the number has steadily fallen and is now down to about 807,000, with a slight downward trend continuing.
The market isn’t offering much support either. Currently $ETH
is trading at $2,042.94, down a steep 15.5% over the past week. Selling pressure has persisted since it broke below the $2,250 support level. Fortunately, Vitalik has recently been making a push to position Ethereum as a store of value, giving the bulls at least a little hope.
On one hand, people are willing to lock up their coins for the long term and earn yield, with staking figures continuing to hit records. On the other, validator numbers are falling and the price has pulled back sharply. With bullish and bearish signals mixed, Ethereum’s next chapter probably won’t be dull.