Ethereum staking demand flips bullish as entry queue tops exits

• Ethereum staking entry queue surpasses exit queue for first time in six months.
• Entry queue holds 745,619 ETH with 13-day wait versus 360,518 ETH exiting.
• BitMine stakes 342,560 ETH worth $1 billion in two-day period.

Ethereum’s staking queue has overtaken the exit line for the first time in six months. Almost twice as much ETH now waits to be staked compared to ETH attempting to leave the network.

The entry queue for validators holds roughly 745,619 Ether with a nearly 13-day wait. The exit line contains around 360,518 ETH with an eight-day wait according to blockchain explorer Ethereum Validator Queue.

The flip occurred on Saturday when both queues stood around 460,000 ETH. The entry queue has climbed sharply since, while the exit queue trends toward zero according to some analysts.

Ethereum staking behavior mirrors June price action

Abdul, head of DeFi at layer 1 blockchain Monad, noted the last time the entry and exit queue flipped was in June. Ether “doubled in price shortly after” that reversal.

Abdul predicted that “2026 going to be a movie” based on the current queue dynamics. Ether crossed over $2,800 in June. By August 24, the cryptocurrency hit a new all-time high of $4,946.

Ethereum operates as a proof-of-stake network requiring validators to stake assets for network security. Unstaking is often viewed as a sign that validators plan to free up Ether for sale.

Exit queue projected to reach zero by January

Abdul stated in a December 24 post that the exit queue serves as a leading indicator of predictable supply flows entering the market through unstaking. The queue has faced sell pressure since July.

“I estimate that around 5% of the Ether supply has exchanged hands since then — this accounts for Kiln’s unstaking in September. Roughly 70% of this unstaked ETH has been absorbed by Bitmine; they now hold 3.4% of the ETH supply,” Abdul said.

Kiln, a staking service provider, initiated an “orderly exit” of all its Ether validators in September. The move came as a safety precaution following the exploit of digital asset investment platform SwissBorg.

“At its current rate, the validator exit queue will reach 0 on Jan 3rd — after which I expect the sell pressure on ETH to subside,” Abdul added.

The January 3 projection suggests selling pressure from unstaking could disappear within weeks. This would remove a major source of Ethereum supply hitting markets.

BitMine accumulates massive Ethereum position

Digital asset treasury companies like BitMine are scooping up large amounts of Ether and staking it. Dylan Grabowski, host of the Smart Economy Podcast, pointed to this as a possible cause for the queue shift.

Blockchain analytics tool Lookonchain flagged that BitMine staked 342,560 Ether in two days on Sunday. The stake is worth roughly $1 billion at current prices.

BitMine now holds 3.4% of the Ethereum supply according to Abdul’s analysis. The company absorbed roughly 70% of the unstaked ETH that entered markets since July.

The institutional accumulation pattern resembles strategies employed by Bitcoin treasury companies. Large entities acquiring and staking major positions removes circulating supply from markets.

Ethereum ETF outflows contrast with staking surge

Ethereum spot ETF data shows sustained outflows through late December. Daily net outflows reached as high as $224.26 million on December 16, 2025.

The week of December 26 recorded $38.70 million in daily outflows. The previous week saw $52.70 million exit Ethereum ETFs on December 24.

Weekly data reveals more dramatic movements. The week ending December 19 recorded $643.97 million in outflows. The week of December 12 showed $208.94 million in positive inflows.

Cumulative total net inflow for Ethereum ETFs stands at $12.34 billion. The cumulative figure remains positive across all time periods shown in the data.