Cryptocurrency transactions on the Ethereum blockchain break a historical record

Activity on the Ethereum network has reached a historic high in terms of the number of transactions, while the queue of validators leaving the staking has dropped to zero. This indicates a change in the dynamics of supply and demand in the Proof-of-Stake-based blockchain ecosystem, as well as a decrease in pressure on the sale of ETH by stakers.

As of January 19, the queue to leave the validators has completely disappeared, with a volume of 0 ETH. For comparison, in September 2025, there were more than 2.67 million ETH in the exit queue. This change means that no large volumes of ETH are currently waiting to be withdrawn from the protocol.

Instead, the queue for new validators to join has grown significantly and exceeded 2.6 million ETH, the highest level since July 2023. The expected activation time for new validators is approximately 45 days, while the processing of outgoing applications takes only a few minutes, indicating that demand is outstripping supply.

According to analysts, more than 46.5% of the total ETH supply is held in the Proof-of-Stake contract, which is about 77.85 million coins. Of these, approximately 36.1 million ETH, or about 29% of the total supply, is directly in the process of staking.

Experts believe that the combination of a zero exit queue and a growing entry queue can maintain stability and trust in the Ethereum network. At the same time, the current market value of ETH remains below historical highs, which indicates a difficult macroeconomic situation in the cryptocurrency market.