Fundamental revival? Ethereum's single-day trading volume hits a new high, and the staking "exodus" wave temporarily subsides.

2026-01-19 08:44:09

On-chain data shows that the number of Ethereum transactions last Friday surged past 2.885 million, setting a new record for single-day transactions and reflecting a sign of fundamental improvement as transaction volume rises and gas fees remain low.
Throughout most of 2025, on-chain activity on Ethereum has shown a gradual cooling trend until mid-December, when transaction volume noticeably rebounded and recently surged rapidly; more notably, despite the significant increase in transaction volume, Ethereum’s Gas Fee remained at low levels, with no signs of the fee spike seen during previous bull markets.

This indicates that after a series of technical upgrades and successful Layer2 sharding, Ethereum is now absorbing the surge in demand more smoothly and efficiently.
In addition to active trading, the staking structure on Ethereum has also changed. Currently, the “exit queue” for validators has dropped to zero.
This means that any investor wishing to unstake and withdraw ETH can almost instantly do so, with no waiting time. In stark contrast, the queue to “enter” staking remains long.
According to ValidatorQueue data, over 36 million ETH are currently locked in staking contracts, accounting for about 30% of the circulating supply; more than 2.5 million ETH are queued for staking, reaching the highest level since August 2023.

In other words, there is no panic withdrawal trend in the market, and holders feel secure about locking their assets.

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