There are currently almost 9,000 validators waiting in line on the Ethereum network as the crypto’s price touches $3,000. The number of validators could hit one million by April’s Bitcoin halving as restaking takes off.

Ethereum Explorer beaconcha.in reveals 8,799 aspiring validators who could, when added to the network, take the number of validators closer to one million. No validators intend leaving the network.

Validators Crowd For Restaking Potential

In the past week, the amount of ETH staked on the network reached $1.24 billion. The network also onboarded 12,741 nodes over the same period. The total number of active validators is now at 945,647.

Read more: What Are Nodes?

The so-called Ethereum merge in 2022 changed Ethereum’s consensus mechanism from proof-of-work to proof-of-stake. This upgrade replaced miners with validators who are incentivized to secure the network. After that, node validators could stake 32 ETH to secure the network and earn crypto rewards.

Many aspiring validators come amid the rise of applications t

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Author: David Thomas

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