Analysis: Ethereum pledged pledge queue surged to its highest level in two years, driven by institutional increase

According to ChainCatcher, the number of Ethereum to be pledged soared to the highest level since 2023 as institutional traders and cryptocurrency savings companies hope to receive rewards for their assets they hold. On Tuesday, the Ethereum staking entry queue reached its highest level since September 2023, with on-chain data showing that 860,369 Ethereum (valued at approximately US$3.7 billion) are waiting for pledge. After the staked exit queue hit a record high of just over 1 million ETH, the entry and exit queues reached a balance for almost the first time, and the exit queues then fell by 20%, indicating that the speed of Ethereum's unpocketing slowed down. Ultrasound.Money data shows that 35.7 million ETHs have been pledged on the blockchain, worth about US$162 billion, accounting for 31% of the total supply.