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The Ethereum staking queue is currently backed up with approximately 1.7M ETH awaiting validator activation. Given the current processing rate, new validators face roughly a 29-day waiting period before they can begin earning staking rewards.
What's noteworthy here is the roster of participants lined up. Major institutional players including established mining operations and gray market institutional holders are reportedly in this queue. This level of institutional commitment to Ethereum's Proof-of-Stake ecosystem suggests serious conviction about long-term network participation. When players of this caliber make multi-million ETH commitments, it typically signals they're betting on sustained network value and staking viability.