We recently talked about Ethereum’s validator exit queue hitting record levels. But there’s more to the story… The entry queue is also growing. Over 326,000 ETH, worth more than $1.20 billion, is currently waiting to enter staking. Let’s unpack this 👇

1/ Let's start by understanding what is the entry queue? It's when someone wants to become an Ethereum validator and stake ETH, they have to wait in a queue especially during times of high demand. This is an essential mechanism in Ethereum's consensus, playing a pivotal role in maintaining the network's stability and security.

2/ What do we see? A massive surge in interest in becoming a validator. After months of moderate inflow, we're seeing > 326K ETH trying to get in. This number is both impressive and gratifying.

3/ And the most important question why is it growing? Well, most likely, this surge is driven by a combination of factors - both technical and economic. We’re seeing demand from all sides of the staking ecosystem. • ETH price momentum makes staking more attractive for users. • Institutional players are increasing capital as confidence grows in network. • Improved validator UX post-upgrades makes solo staking more accessible.

4/ There’s also the psychological effect, or at least that’s one possible explanation. Once the queue starts filling up, others rush to get in before wait times grow longer. Are you in line yet? Source: