Ether’s (ETH) price had dropped 7% since being rejected from the $3,400 mark last week, falling to key support levels. Data suggested that increased staking demand, coupled with renewed ETF inflows and strong technical support, could lead to a sustained recovery.
Key takeaways:
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Ether queued for staking goes parabolic, with a 44-day wait time
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Institutional demand for ETH is recovering along with ETF inflows.
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ETH bulls must defend the support at $3,100 to set the stage for sustained gains.
Ether’s staking demand soars to 30-month highs
Ether’s entry queue has surpassed 2.6 million ETH worth $8.3 billion at current rates, with a 44-day wait time.
This marks the highest amount of Ether set for staking by the network’s validators since July 2023.
Related: Why Ethereum’s ‘walkaway test’ and quantum readiness matter more than ever
Data from ValidatorQueue notes that the current number of active validators is 978,657, with 29.76% of the total ETH supply staked, around 36.1 million ETH.
“Ether’s entry queue is at the highest level in 2.5 years,” said analyst Ted Pillows in a post on Sunday, adding:
ETH validator queue. Source: ValidatorQueue.comThe massive staking inflows are strengthening ETH’s supply-demand dynamics, potentially setting the stage for upward price momentum this year.
Meanwhile, the Ether’s staking validator exit queue has dropped to zero, signaling a significant drop in selling pressure and boosting confidence in the yield-bearing feature of ETH’s tokenomics.
Ether’s validator exit queue has “been completely cleared,” said crypto investor Langerius in an X post on Sunday, adding that it is a bullish signal when people choose to stake ETH instead of selling.
Onchain Foundation head of research Leon Waidmann said the last time the validator exit queue cleared was in July 2025, which was followed by a sharp rally later that summer, with ETH eventually reaching its current all-time high of $4,950 on Coinbase on Aug. 24, 2025.
Ethereum ETF demand shows recovery signs
Increasing accumulation and buying from Ether treasury companies and spot ETH exchange-traded funds (ETFs) provided the demand-side pressure required to keep ETH above $3,000.
Data from Capriole Investments shows that collective holdings of strategic reserves and ETFs have jumped by 10% since Nov. 22, 2025, climbing to 12,227,531 ETH from 11,594,738 ETH.
The chart below shows that strategic ETH reserve entities and ETFs now hold 9.72%, worth about $40.1 billion, of the total ETH supply.
The sharp increase underscores a swift consolidation of Ether into the hands of major institutional and corporate players.
Ether treasuries and ETF holdings reserve. Source: Capriole InvestmentsThe majority of these entities have or will stake ETH for additional yields as part of trading strategies, which may have helped expand the entry queue in recent weeks.
Tom Lee-chaired BitMine Immersion Technologies, the largest corporate Ether treasury holder, continued to aggressively stake its ETH holdings, adding 186,560 ETH (worth about $625 million at time of publication) to its staking address last week.
This brings the total amount staked by the company to 1,530,784 ETH, worth approximately $5.13 billion at time of publication, or 4% of the total 36 million ETH staked on the Beacon Chain.
Meanwhile, spot Ether ETF buying continues, with these investment products recording inflows every day of last week, totaling $479 million, according to data from SoSoValue.
The inflows followed a three-day outflow period, when these Ethereum funds shed a combined $351 million Jan. 7-Jan. 9.
Ethereum ETF flows table. Source: Farside InvestorsThe key cost basis area is around $3,100
Investors acquired about 3.27 million ETH at an average cost of $3,100 to $3,170, creating a potential support zone, according to Ether’s cost basis distribution data.
This makes this price level important as it can serve as a potential launchpad for the next leg up.
Ether cost basis distribution chart. Source: GlassnodeAnalysts say ETH must hold the support at $3,170, coinciding with the 21-day simple moving average (SMA), for the bulls to regain their footing.
“21-Day MA is a crucial level to hold onto, and ETH has held that level nicely,” MN Capital founder Michael van de Poppe said in a recent post on X, adding:
ETH/USD daily chart. Source: Michael van de PoppeAs Cointelegraph reported, holding above the $3,050- $3,170 demand zone is crucial to ETH’s upside prospects and sets the stage for a possible rally above $4,000.
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