36 million ETH hits new high: Ethereum staking demand explodes, why are validators' confidence levels remaining high

The Ethereum staking ecosystem is experiencing a period of strong growth. According to the latest data, over 36 million ETH are staked on the Beacon Chain, accounting for nearly 30% of the circulating supply, with the staked market cap surpassing $118 billion, reaching a new all-time high. What does this number signify? Why is staking demand continuing to strengthen? Let’s take a look at the story behind the data.

Key Data Indicating a New High in Staking Volume

Currently, the Ethereum staking ecosystem exhibits several noteworthy features:

The meaning behind this set of data is clear: the market’s long-term optimism for Ethereum is rising, and this optimism is not just a fleeting emotional fluctuation.

Three Drivers Behind the Strengthening Staking Demand

Price increases have injected momentum

According to relevant information, Ethereum has risen 11% so far this year, with the current price around $3,293, and a 24-hour increase of 5.10%. The rising price directly improves the absolute staking returns, which is obviously attractive to new participants. But more importantly, the price increase reflects market recognition of Ethereum’s fundamentals, giving existing stakers a reason to continue holding.

Maintaining low sell pressure is a key signal

The number of validators in the exit queue has remained near historical lows, which is more indicative than the total staking volume growth. Low exit volume means two things: first, current stakers are optimistic about future prospects and are not under pressure to cash out; second, market confidence in Ethereum remains relatively stable, not fragile consensus easily shattered by short-term fluctuations.

In contrast, the 2.3 million ETH in the activation queue indicates that many participants are waiting to join staking. This “queueing to enter, few exits” situation usually signals that market participants are optimistic about the long-term outlook.

Network economic growth lags behind price increases

According to relevant analyses, Ethereum’s price growth has actually lagged behind network economic growth, indicating that on-chain activity and ecosystem development are continuously progressing. In other words, the increasing staking demand is not solely based on price speculation but is supported by fundamental factors.

What Does This Mean

From the validator’s perspective, the current staking environment is relatively stable and friendly. 900,000 active validators are protecting the network, and their ongoing participation ensures Ethereum’s security and decentralization. Moreover, this number is still growing—the 2.3 million ETH in the waiting queue could activate at any time.

From a market perspective, 36 million ETH are locked in staking, effectively removing a large portion of supply from the liquidity market. This can support ETH’s price, especially during market volatility. However, it’s important to note that this also means a loss of liquidity.

Two Possible Future Directions

If Ethereum’s price continues to rise and breaks through the key level of $3,400, staking demand could further strengthen. More participants will be attracted to enter the staking market, and ETH in the waiting queue may accelerate activation.

Conversely, if the price experiences a correction, the growth rate of staking may slow down. However, based on the current low exit rate, the stability of existing stakers’ holdings should be relatively strong, making large-scale panic exits less likely.

Summary

The record high in Ethereum staking volume reflects the market’s recognition of the long-term value of this blockchain. The locking of 36 million ETH, participation of 900,000 validators, and historically low exit pressures all point in one direction: market participants are demonstrating their confidence in Ethereum’s future through concrete actions. Of course, the growth in staking volume will further enhance network security and decentralization—a mutually reinforcing process. Moving forward, it will be important to observe whether this strong staking demand can be maintained amid price fluctuations, and when the 2.3 million ETH in the waiting queue will be activated on a large scale.