ChainCatcher message, according to Cointelegraph, as institutional traders and cryptocurrency savings companies look to earn rewards on their held assets, the amount of Ethereum pending staking has surged to its highest level since 2023. On Tuesday, the Ethereum staking entrance queue reached its highest level since September 2023, with on-chain data showing that 860,369 ETH (worth approximately $3.7 billion) are waiting to be staked. After the staking exit queue hit a historical high of just over 1 million ETH, the entrance and exit queues nearly balanced for the first time, followed by a 20% drop in the exit queue, indicating a slowdown in Ethereum unstaking. Ultrasound.Money data shows that 35.7 million ETH have already been staked on the blockchain, worth approximately $162 billion, accounting for 31% of the total supply.