The ETH staking queue is full, and this signal is quite interesting. Currently, about 1.5M validators are waiting to get on board, while 2.45M ETH are exiting the queue, indicating a two-way congestion that shows the market is in a game of chance.

Key Points: Many large holders insist on native staking (self-built validators) instead of using liquid staking such as stETH/rETH, and would rather wait longer to hold 32 ETH for their own operations. What does this reflect? Those who are optimistic about ETH in the long term are voting with their actions - even if they have to endure a longer unlocking period and slashing risks.

Buterin has previously emphasized that the delay design for leaving the team is not a BUG but a feature, which can prevent large panic withdrawals from crashing the market. The current situation shows that Ethereum's position as a DeFi clearing hub is becoming increasingly stable (Aave's daily trading volume is still growing), which provides a reason for institutions to get on board.

In simple terms: the longer the validators queue = the market is leveraging bullish, and the continued increase in staking participation indicates that Ethereum's economic position is solidifying.