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Bitmine acceleration staking leads to a surge in the number of ETH in the validation queue. New validators need to wait nearly 17 days for activation.
Mars Finance reports that after Bitmine, an Ethereum treasury company, deposited an additional 82,560 ETH into the Ethereum staking system, the total staked ETH has increased to 544,064 ETH. Based on current prices, this is valued at approximately $1.62 billion. Due to Bitmine’s recent acceleration in staking, the current Ethereum validator queue has grown to about 977,000 ETH, with new validators facing an estimated wait time of nearly 17 days. The ETH in the withdrawal queue waiting for payout exceeds 113,000 ETH. Data from the Ethereum network shows that over 35.5 million ETH are currently staked, accounting for about 29% of the total supply, with an annualized staking yield close to 2.54%.