2026-01-09 01:29:17

The Ethereum staking market is experiencing an unusual congestion. Data shows that over 1.66 million ETH are queued to be staked, worth approximately $5.2 billion. Meanwhile, the wait time for new validators to activate has been extended to nearly 29 days, while on the other side, the withdrawal queue is almost empty—only 32 ETH are waiting to be withdrawn.

What does this data indicate?

First, ETH is being locked up for the long term. The full queues for staking and the near-zero withdrawal queues directly reflect a shift in market participants' expectations. When a large amount of funds are rushing to lock in yields while almost no one is choosing to withdraw, the circulating supply is rapidly decreasing, and potential selling pressure is evaporating. Historically, such supply structures usually appear only before and after strong trend initiations.

Second, the attitude of institutions is crucial. The world's largest ETH asset management company, BitMine, currently holds 4.1 million ETH, accounting for 3.4% of the total supply. Since December 26, 2025, the firm has continuously deposited ETH into staking, accumulating over 827,000 ETH, with no signs of stopping. This is not short-term arbitrage but a clear long-term bullish signal.

What happens when staking scales continue to grow? Circulating supply decreases, selling pressure diminishes, network security improves, and market confidence gradually returns. These factors often brew on-chain before prices truly react. The market usually does not wait until everyone understands before starting to fluctuate.

As Ethereum is a mainstream public chain, its ecosystem assets tend to adjust accordingly. In this time window, investors paying attention to on-chain data are already making their stance clear through actions.

ETH0,19%

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MetaMuskRat

· 01-09 16:33

1.66 million coins are in line, the exit queue is almost gone... This is how big players quietly move assets. Those who can't understand on-chain data should reflect. BitMine has fiercely locked 827,000 coins. Institutions don't lie; this move clearly indicates bottom-fishing psychological preparation. Once supply tightens, is the price far behind? History always repeats itself. I've seen the evaporation of selling pressure too many times; every time it's the calm before the storm. What does a 29-day waiting time indicate? It's hot demand. Don't you feel FOMO? On-chain data speaks for itself; it all depends on whether you believe it.

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InfraVibes

· 01-09 01:59

1.66 million ETH queued, only 32 left to exit the queue? That's quite something to watch. BitMine's move is impressive; no one can counter it, and it’s a bit intimidating. Large investors are locking in, what are retail investors still hesitating for? The evaporation of selling pressure has been seen repeatedly before; why do some still not believe it this time? The surge in staking volume is just waiting for a certain moment; on-chain data has already spoken.

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MoonRocketTeam

· 01-09 01:59

1.66 million coins are in line, only 32 coins left to exit the queue. This booster is about to ignite. BitMine's move is clearly about loading ammunition; long-term bullishness is so straightforward and unpretentious. Selling pressure evaporates, circulation volume declines, on-chain data is already sounding the alarm. What are some people still waiting for? Sufficient supply, clear trajectory—don't miss this window. What does a 29-day waiting period indicate? Everyone wants to get on board. Wait, I also want to queue up. Institutional actions are already very obvious. Instead of reading reports, it's better to look at the on-chain data. The final question is, are you waiting or have you already finished loading?

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RetiredMiner

· 01-09 01:41

1.66 million coins are in line, this move is really locking down the circulation. Only 32 coins left to exit the queue? Laughing out loud, who still wants to run? BitMine's move is a bit aggressive, pouring 827,000 coins into it, clearly a long-term bullish signal. Institutions won't deceive. In such times, on-chain data is often more honest than words; price reactions are always the last to be noticed. Just looking at the data, the circulation is evaporating, and selling pressure has disappeared. It’s only a matter of time before the Ethereum ecosystem adjusts. Staking congestion ≈ bullish signal, simple and crude but effective.

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GmGnSleeper

· 01-09 01:35

1.66 million ETH are queued to enter, only 32 remain in the exit queue? This doesn't feel right, it seems like something big is about to happen. BitMine really dares to spend, locking up 827,000 directly—no one would joke about this kind of move. Selling pressure evaporates, supply decreases, the on-chain story is so clear, why are retail investors still hesitating? The staking scale has increased so much, it looks risky in the short term, but the long-term logic is indeed solid. Wait, when is this data from? December 2025? Did I misunderstand something?

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