BroadChain has learned that as of March 4, data reported by Decrypt indicates around 3.4 million ETH are currently queued to join the validator set. This represents one of the longest staking queues since Ethereum's transition to proof-of-stake, with an estimated wait time of up to 60 days.
The figure marks a significant jump from approximately 904,000 ETH at the start of January.
Analysts point out that the Ethereum validator queue has grown substantially in recent times. This trend reflects a shift among large investors, institutions, and crypto exchanges, who are increasingly choosing to stake their ETH holdings rather than sell in the current market environment. Growing narratives around Ethereum's potential in payments infrastructure and AI-related applications may also be fueling this demand.