So far it’s locked up 32 x 416987 ETH. That’s about 10% of the circulating supply. The number of validators probably won’t grow beyond a couple million because

So far it’s locked up 32 x 416987 ETH. That’s about 10% of the circulating supply. The number of validators probably won’t grow beyond a couple million because the earnings/rewards per validator shrink as the total number of active validators grows. The effective APR is already down to ~4%.