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Ethereum Steadies Near $3,300 as Network Activity Hits Records and Staking Queue Swells

Record usage alongside a zero exit queue points to tighter supply pressure.

Overview

  • - Daily transactions have climbed past prior-cycle peaks while average fees fell to multi-year lows, reflecting effective scaling from upgrades such as EIP-4844 and expanded blob capacity.
  • - The validator exit queue has fallen to zero with roughly 2.6 million ETH waiting to enter and estimated wait times near 45 days, as a large share of supply remains committed to staking.
  • - Price remains rangebound in the $3,200–$3,400 area, with $3,300 flagged as key support; a tariff-driven selloff triggered about $109 million in liquidations and Binance ETH futures volume spiked to roughly $21.7 billion.
  • - Accumulation persisted through spot ETF inflows in the hundreds of millions this year, sizable centralized-exchange outflows including about 43,990 ETH over 24 hours, and a whale purchase of 10,057 ETH later cycled into Aave and stETH.
  • - Vitalik Buterin urged protocol simplification or “garbage collection,” and ETH ticked about 2% higher toward $3,350 following his comments.