PANews reported on September 3rd that according to Cointelegraph, as institutional traders and cryptocurrency savings companies hope to obtain rewards for their holdings, the amount of Ethereum to be pledged has surged to its highest level since 2023. On Tuesday, the Ethereum pledge entry queue reached its highest level since September 2023, with on-chain data showing that 860,369 Ethereum (worth approximately US$3.7 billion) was waiting to be pledged. After the exit queue hit a record high of just over 1 million ETH on August 29th, the entry and exit queues nearly reached equilibrium for the first time. Subsequently, the exit queue declined by 20%, indicating a slowdown in the rate of unstaking on Ethereum. Ultrasound.Money data shows that 35.7 million ETH has been staked on the blockchain, valued at approximately $162 billion, representing 31% of the total supply.PANews reported on September 3rd that according to Cointelegraph, as institutional traders and cryptocurrency savings companies hope to obtain rewards for their holdings, the amount of Ethereum to be pledged has surged to its highest level since 2023. On Tuesday, the Ethereum pledge entry queue reached its highest level since September 2023, with on-chain data showing that 860,369 Ethereum (worth approximately US$3.7 billion) was waiting to be pledged. After the exit queue hit a record high of just over 1 million ETH on August 29th, the entry and exit queues nearly reached equilibrium for the first time. Subsequently, the exit queue declined by 20%, indicating a slowdown in the rate of unstaking on Ethereum. Ultrasound.Money data shows that 35.7 million ETH has been staked on the blockchain, valued at approximately $162 billion, representing 31% of the total supply.
Analysis: Ethereum staking queue surges to two-year high driven by institutional buying
PANews reported on September 3rd that according to Cointelegraph, as institutional traders and cryptocurrency savings companies hope to obtain rewards for their holdings, the amount of Ethereum to be pledged has surged to its highest level since 2023. On Tuesday, the Ethereum pledge entry queue reached its highest level since September 2023, with on-chain data showing that 860,369 Ethereum (worth approximately US$3.7 billion) was waiting to be pledged.
After the exit queue hit a record high of just over 1 million ETH on August 29th, the entry and exit queues nearly reached equilibrium for the first time. Subsequently, the exit queue declined by 20%, indicating a slowdown in the rate of unstaking on Ethereum. Ultrasound.Money data shows that 35.7 million ETH has been staked on the blockchain, valued at approximately $162 billion, representing 31% of the total supply.
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