Ethereum’s staking dynamics shifted sharply as the validator entry queue nearly doubled the exit queue, marking the first such flip in six months.
Data from Ethereum Validator Queue showed around 745,619 ETH waiting to be staked, implying an entry delay of close to 13 days.
By comparison, roughly 360,518 ETH sat in the exit queue, with an estimated eight-day wait to withdraw from staking.
The crossover occurred on Saturday when both queues hovered near 460,000 ETH before entry demand surged rapidly.
Market participants interpreted the imbalance as a renewed signal of long-term confidence in Ethereum’s proof-of-stake network.
Abdul, head of DeFi at layer-1 blockchain Monad, highlighted the flip on X, noting similar conditions preceded a major price rally in mid-2024.
The last time the entry queue flipped the exit queue, ETH doubled shortly after.
Abdul said, adding that:
2026 is going to be a movie.
Ethereum traded near $3,018 on Monday, after peaking at $4,946 in August following the previous queue reversal.
Staking activity is widely viewed as reducing near-term sell pressure, while exits often indicate potential supply entering the market.
Abdul estimated around 5% of Ether supply has changed hands since July, largely driven by validator exits and reallocation.
He said about 70% of recently unstaked ETH had been absorbed by digital asset treasury firm BitMine.
BitMine now holds roughly 3.4% of total ETH supply and has increasingly staked its holdings rather than selling them.
Blockchain analytics platform Lookonchain reported BitMine staked 342,560 ETH worth about $1 billion over two days.
Kiln, a major staking provider, previously exited all its Ether validators in September following a security incident involving SwissBorg.
Abdul projected the validator exit queue could reach zero by early January, potentially easing persistent sell pressure.
Other analysts suggested the Pectra upgrade improved staking efficiency, raising validator limits and simplifying restaking for large balances.
Additional factors cited included DeFi deleveraging and the unwinding of leveraged stETH strategies as borrowing costs rose.
Together, analysts said these forces point to tightening liquid supply and strengthening medium-term sentiment for Ether.
At the time of reporting, Ethereum price was $3,015.26.