The recent rally was no exception for Ethereum [$ETH]. The largest altcoin, which was trading near the $1900 price level, has now climbed close to $2500. At press time, $ETH was trading at $2,459.03 after a hike of over 30% in the past 30 days.
However, this price hike is not solid proof that $ETH will continue going up. This is because the staking side of Ethereum’s supply is behaving differently from expected performance during a major price rally.
Rather than seeing a rush to unlock $ETH, the network is seeing continued commitment to staking.
Is this a good sign?
According to Ethereum’s Validator Queue, $ETH ‘exit queue’ has hit 0. In this, around 902,506 are active validators, and about 42.4 million $ETH are staked, accounting for 34.8% of the total supply.
This happens even after Ethereum witnessed a 70% pump. Looking at the current scenario, one can tell that the current $ETH rally has more room to run.
Hence, if these validators are expecting $ETH to appreciate further, exiting staking simply to sell after a 70% rally may not make sense to them.
Needless to say, another factor might be staking yield, where stakers are earning rewards for participating in Ethereum’s network. If they remain bullish on $ETH, they can continue earning yield while maintaining exposure to the asset.
Ethereum validator’s performance in August
This comes as in August 2026, the entry wait time fell from around 43–44 days to roughly 36 days, showing that the large staking backlog is gradually clearing.
At the same time, after falling to around 880,000–881,000 in mid-July, the number of active validators began recovering. In August, the count rose sharply from roughly 887,000 at the start of the month to over 900,000 by late August, reaching around 902,000–903,000.
This shows that Ethereum’s validator base is expanding again, signaling strong staking participation and limited exit pressure.
What’s more?
This comes as Ethereum’s largest DAT, Bitmine Immersion Technologies, has staked 5,067,309 $ETH so far, valued at approximately $12.4 billion. Whereas, Shaprlink has staked over 26,193 $ETH total.
All this happens while Fidelity has announced plans for Ethereum staking and quarterly cash distributions, adding a new source of potential income to the spot ETF.
While Ethereum staking makes to the spotlight, Solana [$SOL], has a much higher staking participation rate at roughly 68.3% of its supply, with around 421.8 million $SOL staked and yields of approximately 5.75%–6.5%.
Still, its total dollar value staked remains much lower than Ethereum.
Final Summary
- The Ethereum ecosystem has around 902,506 are active validators, and about 42.4 million $ETH are staked.
- Validators are expecting $ETH to appreciate further, hecne exiting staking simply to sell after a 70% rally does not makes sense.
