Ethereum Sees Renewed Interest in Staking as Validator Entry Queue Spikes

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Ethereum validator entry Q signals a renewed interest in staking the validator entry que jumped to 7045 making the waitlist the longest since October 6th. According to data source validator, QE, the waitlist that represents 225,000 ether or $562 million is expected to clear in just over 48 hours. Validators are entities that stake a minimum of 32 ether in the network to participate in Ethereum proof of stake consensus Blockchain in exchange for staking, they receive a steady rate of return similar to interest income from fixed income instruments like bonds. While the number of stakers looking to join the network has spiked. The tally remains well below the figures over 75,000 seen following Ethereum Chappelle upgrade in April last year, the yield on staked ether remains below 4%. That's a wrap for today's chart of the day. I'm Jen Sasi. We'll see you next time to unpack more of the data behind top news stories.