According to CoinMeta, Swiss digital asset bank Sygnum Bank indicates that the number of Ethereum validators in the queue has reached approximately 2.5 million, with an activation waiting time of about 43 days. Some of this backlog comes from operators re-investing existing stakes after the Pectra upgrade, rather than entirely new demands. In contrast, the exit queue is nearly empty, indicating a low willingness to release these stakes. Currently, about 41.2 million ETH have been staked, accounting for 33.8% of the circulating supply.