The validator entry queue on Ethereum is currently a bit congested. Data shows that the number of validators waiting to be activated has accumulated to about 977,000 ETH, which means new validators need to wait in line for approximately 17 days before they can officially start working.

The reason behind this is straightforward—large funds are pouring in疯狂ly. Currently, over 35.5 million ETH are staked across the network, accounting for 29% of the total ETH supply. However, despite this massive influx of funds, the annualized yield is only 2.54%. This has still attracted the interest of many institutions.

For example, a well-known staking provider recently accelerated their staking process. The ETH they have staked individually has reached 544,064, which is roughly worth $1.7 billion at current market prices. This large-scale capital inflow has directly pushed up the validator queue, and now more than 113,000 ETH are waiting for withdrawal.

This phenomenon has attracted the attention of many industry practitioners. Some industry insiders mentioned on social platforms that the last reversal of the entry and exit queues occurred around June, and shortly after that, the price of Ethereum doubled. Based on this historical pattern, they are optimistic about the market next year, believing that 2026 may usher in a rather exciting cycle.

In summary, the movement of large funds often rewrites the market landscape, and this time is no exception.