Ethereum’s staking ecosystem is seeing renewed vigor, with the staking entry queue climbing to 860,369 ETH, valued at around $3.7 billion the highest level since the Shanghai upgrade in 2023. That upgrade, which introduced withdrawals, briefly caused large-scale validator exits, making today’s figures particularly noteworthy.
Institutional Confidence Fuels the Queue
According to Everstake, the surge reflects growing confidence in Ethereum’s long-term potential, as more institutional investors enter the market. We haven’t seen queues of this size since 2023. It’s a strong signal that more people trust Ethereum and want to participate in securing it,” the staking protocol noted.
With Ether trading near $4,321 and relatively low gas fees, both retail users and corporate treasuries are finding staking increasingly appealing. The heightened activity has also eased recent concerns over mass exits, which briefly spiked above 1 million ETH on August 29 before dropping 20%.
Currently, Ethereum has 35.7 million ETH locked in staking contracts, roughly 31% of the total supply, according to Ultrasound.Money. Corporate treasury funds alone hold 4.7 million ETH, valued at over $20 billion, mostly dedicated to staking. Data from StrategicEtherReserve shows that more than 70 treasury participants have begun deploying long-term staking strategies.
This convergence of favorable market conditions, strong Ether prices, and institutional participation has brought staking entry and exit queues closer to balance for the first time since July, indicating a healthier ecosystem and growing demand for on-chain yield generation. Despite ETH being down 12.4% from its August 24 all-time high, long-term holders remain committed, often increasing their stakes rather than exiting.
Ethereum’s Bullish Future According to Industry Leaders
Ethereum co-founder Joseph Lubin predicts extraordinary growth for ETH, saying it could potentially surge 100x over time, positioning it as Wall Street’s future infrastructure as TradFi shifts toward decentralized finance. In an X post, Lubin added that Ethereum will replace siloed institutional systems, powering staking, financial services, and smart contract execution.
Backing this bullish outlook, Lubin stated he’s 100% aligned with Fundstrat’s Tom Lee, who believes Ethereum could surpass Bitcoin in network value. Lubin likened the moment to 1971, when the U.S. left the gold standard, signaling a seismic shift in financial architecture led by Ethereum. He described ETH as a new type of virtual commodity, a decentralized trust” that institutions will have to adopt.
Tom Lee also forecasts near-term growth to $5,500 per ETH, with a year-end target of $12,000. He highlighted that Ethereum now underpins over $145 billion in stablecoins and serves as the foundation for the evolving traditional finance ecosystem following the U.S. Senate’s passage of the GENIUS Stablecoin legislation.
