Looking at the data changes in the staking queue and the unstaking queue, an interesting phenomenon is currently occurring with Ethereum.

Approximately 745,000–746,000 ETH are waiting to enter the staking system, while only about 360,000 ETH have chosen to unlock and exit. In other words, the locking pressure is more than twice the unlocking—more people want to lock their coins in rather than rush to take them out.

This phenomenon is not unfamiliar. Similar supply patterns have appeared in history, and the subsequent market trends are quite interesting—ETH has achieved over 100% gains in subsequent cycles. Although history does not repeat exactly, this high staking willingness and liquidity being locked usually indicate that the market has certain expectations for the future trend.

Of course, a single indicator is not enough to determine the trend, but from a supply perspective, this pattern of far more entering than leaving the queue is indeed worth paying attention to.