Ethereum Withdrawal Queue at 0, Staking Waiting Volume Exceeds 2.5 Million ETH

The Ethereum (ETH) validator withdrawal queue has decreased to 0, while the staking entry waiting volume has exceeded 2.5 million ETH. In contrast to last year, when 2.6 million ETH were concentrated in the withdrawal queue, there is currently a bottleneck on the entry side rather than withdrawals. It takes about 44 days from applying to participate in staking to becoming an active validator. The staked ETH amounts to approximately 40.9 million, accounting for 33.6% of the circulating supply, which is the highest ratio in Ethereum's history. The number of active validators has reached 887,000, indicating an increase in network participation over short-term selling. The ETH price is attempting to recover to the $2000 range, fluctuating between $1950 and $1970, and is technically staying within the $1900 to $2200 range. Opinions suggest that settling above $2200 is necessary to secure upward momentum, while $2400 is considered the confirmation line for a trend reversal. Conversely, if it closes below $1900, the next support level to watch will be between $1850 and $1800. Discussions of undervaluation have also emerged in Ethereum's on-chain indicators, but price trends and supply-demand improvements need to be confirmed separately. Currently, market attention is expected to focus on whether it will break out of the $1900 to $2200 range and changes in funding rates.

Disclaimer: This content is provided for general branding and informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online events, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets or to use any services. Crypto assets are highly volatile and may result in loss. WEEX services and online events may not be available in all regions and are subject to applicable laws, regulations, and eligibility requirements. You are responsible for ensuring that your use of WEEX services complies with local laws and for carefully assessing the risks before participating in any crypto-related activities.