Macroeconomics outlet Milk Road commented on Monday, "ETH supply is getting intentionally harder to access." They added, "Staking just hit an all-time high, with millions of ETH now queued to be locked. That is being taken off exchanges and removed from active circulation. This is a long-term positive signal for price appreciation."
ETH supply is getting intentionally harder to access.
Staking just hit an all time high, with millions of $ETH now queued to be locked. That is being taken off exchanges and removed from active circulation.
This is a long-term positive signal for price appreciation.
Higher. https://t.co/pKid87F5pdpic.twitter.com/kZ3VzDWMch
— Milk Road (@MilkRoad) January 19, 2026
Ethereum Staking Queue Surges
The amount of Ether staked is currently at a record 36.2 million, valued at approximately $115 billion. This represents 30% of the total supply of the asset, which is locked and earning around 2.8% in annual yields, according to Ultrasound Money.
The staking environment appears extremely promising, with the validator entry queue at its highest level since 2023, showing 2.7 million ETH awaiting staking. Concurrently, the exit queue has diminished to near zero, indicating that no Ether is being unstaked at present, as reported by Validator Queue.
A significant portion of this queued Ether originates from institutions, including digital asset treasuries like BitMine and exchange-traded funds that are now capable of offering staking rewards.
The official Ethereum X feed stated on Monday, "Ethereum is the #1 choice for global financial institutions. Over the last few months, adoption has accelerated." This statement was in reference to 35 instances of institutions building on Ethereum, shared by Fundstrat's Tom Lee.
A great list put together by @ethereum detailing 35 major financial institutions building on Ethereum in just the past few months
Ethereum is the future of finance$ETH$BMNR@BitMNRhttps://t.co/yrcDr9grY4
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) January 19, 2026
Nic Puckrin, CEO and co-founder of Coin Bureau, described this as a "huge vote of confidence in Ethereum." However, he cautioned that staking measures coins, not conviction. Puckrin explained that one whale staking a million ETH appears identical to a million believers each staking one ETH, but these scenarios represent very different market dynamics.
"So when you see '30% of ETH staked,' the real question isn’t whether that is bullish. It’s who staked it, how liquid is it really, and how fast can it change its mind?"
ETH Price Cools
Ether spot markets have experienced a slight loss of momentum since the weekend. The asset dropped another 1% on Tuesday morning during Asian trading, falling below $3,200.
ETH prices have decreased by 5% since the weekend, as markets remain unsettled by the recent escalation of Donald Trump’s global trade war.