According to CoinMeta, as reported by A early in 2021, Thomas Brunner, the person in charge of Ethereum staking and custody services, stated that the number of validators entering the queue has increased to around 2.5 million. New stakers need to wait for about 43 days, but this backlog is affected by the protocol mechanisms. The Dencun upgrade reduced the daily quota for new validators to around 57,600. The upgrade also allows a single validator to hold up to 2,048 ETH and enables automatic compounding. Large operators that add additional stakes to existing validators must enter the same queue as new stakers, even if they only add 1 ETH. Currently, around 41.2 million ETH are in a staked state, accounting for 33.8% of the circulating supply. Brunner believes that the almost empty queue reflects genuine confidence; institutions have not stopped participating due to the weakening of the ETH price. Privacy concerns, however, remain an obstacle for institutions looking to expand their staking efforts.