Staking withdrawal queues are zero - Ethereum trading reaches record levels

Long-term trust is built up.

Ethereum has reached a significant milestone in network usage, with daily staking transactions on the mainnet hitting a new record high, surpassing the previous peak in May 2021. Meanwhile, the staking withdrawal queue has dropped to zero for the first time since the Shanghai upgrade enabled withdrawals in April 2023. On-chain data from multiple sources (Dune Analytics, Etherscan, Ultrasound.money, and Beaconcha.in) confirms this.

• Daily trading volume: 1.92–1.97 million in the last 24 hours (new record, surpassing the previous high of ~1.89 million)

• Daily gas consumption: Highest since the merger, reflecting complex smart contract operations.

• Staking withdrawal queue: 0 validators awaiting withdrawal (down from peak >100,000 in mid-2025)

• Net staking change: +45,000 ETH staked in the last 7 days — the strongest inflow since Q4 2025.

The rare combination of record usage + zero withdrawals plus net inflows demonstrates extremely strong confidence in the Ethereum ecosystem, particularly in scaling Layer 2, DeFi, real assets (RWA), and institutional staking.

The number of transactions reached a record high.

The increase in transaction volume reflects a broader increase in activity across the entire Ethereum ecosystem. This includes higher-level Layer-1 payment activity, aggregated data uploading and utilization, stablecoin transfers, rebalancing and arbitrage trading in DeFi, and new interactions between NFTs and on-chain applications.

More importantly, this growth isn't limited to a single sector. Instead, it shows Ethereum acting as a busy payments layer, increasingly optimized for throughput and reliability rather than attention-grabbing motives.

The belief of the verifier

Ethereum staking yields have stabilized at a level reflecting the network's actual demand rather than incentives driven by issuance. As transaction fees increase with usage, validator rewards increasingly come from real economic activity, not inflation.

The absence of exit pressure suggests that validators view staking as economically viable, operationally stable, and strategically attractive compared to alternatives.

This represents a significant maturation point for proof-of-stake, where security is maintained by an economy based on usage, rather than short-term incentives.

Our review

The combination of record-high daily transaction volumes and zero withdrawal queues is rare – and very powerful. This suggests the network is being used more than ever while long-term participants are choosing to lock in more capital rather than take profits.

This isn't just a technical milestone; it's a clear market signal of restored confidence, genuine acceptance, and supply discipline. As Layer 2 matures, RWA expands, and staking continues to grow, Ethereum is proving precisely the trio of use + security + capital locking that historically often precedes periods of strong price increases.

With zero withdrawal queues and record-breaking transaction volumes, Ethereum is not only holding its ground but also accelerating. The network is performing well, users are active, and validators are dedicated.

Disclaimer: The information presented in this article is the author's personal opinion in the field of cryptocurrency. This is not financial or investment advice. All investment decisions should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in this article do not represent the official stance of the platform. We recommend that readers conduct their own research and consult with experts before making any investment decisions.

Compiled and analyzed by HCCVenture

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