According to Beaconcha.in market data and reports, Ethereum validator output queue it has shrunk to just 32 ETH and the waiting time is around one minute. This represents a keen decline from the mid-September peak of 2.67 million ETH – a drop of almost one hundred percent. Markets often react when blocked assets are put up for sale. Today, this particular source of instant sales seems to have disappeared.
The validator’s output queue is almost empty
The exit mechanism limits the speed at which validators can stop verification and withdraw the full stake. When the queue is close to zero, there is no backlog waiting to be paid. This limits one form of nervous selling.
Validators still earn rewards by standing in line and can be punished if they misbehave, but the bottleneck that once forced them to work slowly is gone. Reports show that the withdrawal process for partial withdrawals remains separate and smaller withdrawals continue without affecting the full exit flow.
The queue to get in reaches modern highs
Reports show that the entry queue has grown to around 1.3 million ETH, which is the highest level since mid-November. Huge operators send portions of ETH for staking. BitMine started staking on December 26 and added 82,560 ETH to the queue on January 3. The company is currently listing 659,219 staked ETH worth approximately $2.1 billion at current prices.
BitMine’s larger holdings amount to just over 4.1 million ETH, which is approximately 3.4% of the total supply and is valued at nearly $13 billion. These moves add real, measurable demand for the bets placed Ether and support explain why fewer validators seem willing to leave.
Exchange balances and liquidity
Exchange reserves for ETH are at their lowest levels in many years. This matters because when there are fewer coins on trading platforms, automatic selling or panic selling becomes more complex. Traders and analysts point to this as a reason for the easing selling pressure.
It cited some industry data as saying the exit queue is “essentially empty” and that selling pressure is easing as bids outpace payouts. Still, the market can move in other ways – derivatives, lending offices and over-the-counter trades can change exposure without touching the betting lines.
BULLISH: $ETH surpasses Netflix and regains its position as the 36th largest asset by market capitalization. pic.twitter.com/NetdCcdtSa
— CoinGecko (@coingecko) January 6, 2026
Market Cap Milestone and What It Means
Meanwhile, market watchers also noticed another development that Ethereum overtook Netflix to become the 36th largest asset according to market capitalization. This headline attracts attention. This says something about investor focus on blockchain assets.
However, exceeding the market capitalization threshold does not constitute a direct reason for purchase. Valuation rankings change frequently and can be shaped by price movements, which are themselves driven by flows, news or macro changes, rather than by changes in the underlying business.
Featured image from Pexels, chart from TradingView
