Analysis: Ethereum staking queue surges to two-year high driven by institutional buying

The amount of Ethereum waiting to be staked has surged to its highest level since 2023 as institutional traders and cryptocurrency savings companies look to earn rewards for their holdings. On Tuesday, the queue for Ethereum staking reached its highest level since September 2023, with on-chain data showing 860,369 Ethereum (worth approximately $3.7 billion) waiting to be staked.