Ethereum Staking Queue: 11 in, 1 Out

The Ethereum staking queue has 1.68 million ETH waiting to stake, valued at around $4.5 billion. In contrast, only about 154,000 ETH is waiting to be unstaked.

This means that for every ETH leaving the network, nearly 11 ETH are being locked up. This imbalance could suggest a price floor is forming for Ethereum.

The current staking queue shows a ratio of nearly 11 coins locking up for every one leaving, which bulls call a price floor and skeptics call a distraction.

However, the staking queue does not yet signify a bottom for Ether. It reflects that long-term holders are choosing yield over selling, which narrows available supply.