According to @CoinMarketCap, Ethereum staking has reached an all-time high of roughly 36 million ETH, about 30% of total supply, with the validator entry queue at 2.4 million ETH; Source: CoinMarketCap, Jan 14, 2026. Based on 32 ETH per validator and an 8-per-epoch activation cap under EIP-7514 with ~225 epochs per day, the 2.4 million ETH queue (~75,000 validators) implies an estimated ~42 days to activate, affecting when new deposits start earning; Sources: Ethereum.org (Staking basics, Epoch timing), EIP-7514. As total staked ETH rises, the protocol’s reward curve reduces base consensus APR, pressuring yields for staking and liquid staking tokens (LSTs) like stETH, rETH, and cbETH; Source: Ethereum.org (Proof-of-stake rewards). During staking, validator balances are not freely transferable and require an exit and withdrawals to become liquid, temporarily constraining movable ETH supply; Source: Ethereum.org (Withdrawals and exits). For traders, the prolonged entry queue and lower base APR can shift LST pricing, yield spreads, and restaking returns, influencing basis and carry trades across LST/LRT markets; Sources: Ethereum.org (mechanics), Lido Finance documentation (APR methodology).