Latest data discloses that the queue of new validators on the Ethereum blockchain is almost cleared out.
This is said to indicate a weak staking demand compared to how the network was congested at its peak. 
Ethereum (ETH), with a bearish market sentiment, is currently trading at $1,584.36. According to reports, Ethereum has a weak staking demand. This is evident in the recent report that the queue of new validators on the blockchain is almost cleared out.
The first time this was ever recorded this year was in April, when the “Shapella” upgrade was launched, marking the transition from the proof of work to the proof of stake algorithm. In early June, as many as 96,000 validators were waiting in the queue.
As of the time of writing, only 598 validators are waiting for their turn. This indicates that the waiting time for new validators to be added to the network has been reduced to less than 5 hours. This is a significant reduction from the 45-day waiting time due to the increased

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