TL;DR
- Ethereum staking now exceeds 30% of the circulating supply, with about 36.9 million ETH locked across nearly 967,000 active validators.
- Around 3.92 million ETH sit in the validator entry queue, pushing wait times close to 68 days, while the exit queue remains empty.
- Despite ETH trading near $2,000 after falling from highs close to $5,000 in 2024, staking participation continues to expand.
Ethereum staking reaches fresh highs in network participation even as the asset trades well below its recent peak. More than 30% of Ethereum’s circulating supply is now locked in staking contracts, reinforcing network security while reducing liquid supply available on exchanges.
As of Feb. 17, roughly 36.9 million ETH are staked across nearly 967,000 active validators. The figure reflects steady growth over recent months, driven by investors seeking yield and long-term exposure rather than short-term price swings.
Ethereum Staking Expands As Price Consolidates
The rise in Ethereum staking has created renewed congestion for new validators. About 3.92 million ETH currently wait in the entry queue, translating into activation delays of nearly 68 days. The backlog signals sustained demand to participate in securing the network under the proof-of-stake model.
In contrast, the exit queue stands empty. Validators who choose to withdraw face a technical delay of around 8 days before funds reach their designated addresses. Only a few months ago, exit times extended beyond 45 days, indicating that operational pressures have eased.
The network’s annual percentage rate for staking hovers near 2.84% APR. While lower than in earlier stages of the cycle, the yield remains denominated in ETH and offers predictable on-chain returns. For long-term holders, staking provides a mechanism to compound exposure while contributing to protocol security.
Liquid Staking Platforms And Institutional Activity Grow
Liquid staking protocols continue to play a central role in Ethereum’s ecosystem. Platforms such as Lido control roughly 24% of all staked ETH, equivalent to about 8.7 million tokens. Centralized exchanges and institutional staking providers also account for a significant share of participation.
Total value locked in liquid staking solutions climbed above $85 billion during 2024 before retreating toward $40 billion following the October correction. Even so, the structural growth in staking suggests participants prioritize network yield and capital efficiency.
With ETH trading around $2,000, the steady expansion of staking points to a committed validator base and long-term confidence in Ethereum’s monetary and security model. If this trajectory continues, reduced circulating supply could influence broader market dynamics in the months ahead.
