Ethereum’s staking dynamics have shifted sharply, with the queue to deposit ETH into staking now more than double the amount waiting to exit, marking the first such imbalance in six months.
Data from Validator Queue shows, that approximately 746,000 ETH is currently queued for staking, compared with 361,000 ETH awaiting withdrawal. The deposit queue implies an estimated waiting period of around 13 days, while withdrawals are expected to unlock in roughly eight days.
This reversal signals renewed interest in staking participation at a time when Ethereum’s price has remained largely range-bound.
Historical Parallels Draw Market Attention
A similar divergence between staking inflows and outflows was last observed in June. In the months that followed, Ethereum saw a sharp price rally, eventually reaching an all-time high of $4,946 by August.
While past performance does not guarantee future outcomes, traders and analysts often view rising staking queues as a sign of long-term confidence, as locked ETH reduces circulating supply and reflects reduced short-term selling pressure.
Institutional Staking Activity Accelerates
The renewed staking momentum comes alongside large-scale institutional participation. Tom Lee, a long-time Ethereum bull, recently reiterated his outlook for ETH to reach $7,000–$9,000 by early 2026, with a longer-term target of $20,000. Lee attributes his thesis to Ethereum’s growing role in real-world asset tokenization and its increasing competition with traditional payment infrastructure.
Supporting this view, BitMine Immersion Technologies, where Lee serves as chairman, has significantly expanded its Ethereum exposure. The firm has staked 342,560 ETH, valued at roughly $1 billion, over the past several days as part of a strategy aimed at accumulating up to 5% of Ethereum’s total supply, despite current unrealized losses.
BitMine has also begun generating yield from its holdings, recently depositing 74,880 ETH—worth approximately $219 million—into Ethereum’s proof-of-stake system. With total holdings of 4.066 million ETH, full staking at an estimated 3.12% annual yield could generate roughly 126,800 ETH per year.
Lee has framed the current environment not as a speculative “supercycle,” but as a structural transformation in how Ethereum is positioned within global financial markets.
Price Remains Range-Bound—for Now
Despite the notable shift in staking behavior and rising institutional involvement, Ethereum’s price has yet to reflect the change. As of today, ETH is trading near $3,000, with no significant short-term price movement recorded.
Whether the growing staking imbalance will once again precede a broader market repricing remains an open question, but on-chain data suggests that long-term conviction among holders is continuing to build.
