The Ethereum network [ETH] validator queue has emptied for the first time since the network's transition to the proof-of-stake consensus...
The Queue Wait Time for new validators on the Ethereum network has dropped to zero, suggesting low demand for staking on the network.validator queue has emptied for the first time since the network’s transition to the proof-of-stake consensus mechanism in September 2022, according to data fromThe validator queue tracks the count of validators who have deposited their ETH but are waiting to be assigned to a shard or segment of the Ethereum network.
The depletion of the validator queue on the network represents a notable milestone because during the summer, for example, prospective validators had to wait for up to 45 days to join the network.With an entry queue value of zero for the first time since Ethereum transitioned, the current demand for staking ETH has been satisfied, with 23% of ETH’s supply being staked and a staking annual percentage yield of 3.3%.Earlier this month, Ethereum’s Churn Limit increased from 12 to 13.
The increase in the activation and exit limits per epoch means that Ethereum can now process new and exiting validators daily. In a recent post on X, crypto analyst Tom Wan noted that the increase in Churn Rate “means the network can take in 93.6k new ETH deposits per day without requiring new validators to queue for more than > 1 day.”The number of validators on Ethereum reached 854k on 10 Oct.
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