Key Points
- Ethereum staking is gaining popularity with MetaMask launching a pooled staking feature.
- Lido leads Ethereum staking platforms, holding a 28.76% share of the staked volume.
MetaMask Launches Ethereum Staking Feature
Ethereum staking has become increasingly popular since the network switched from Proof of Work (PoW) to Proof of Stake (PoS).
Many platforms have started offering staking services for retail stakers. Recently, MetaMask joined the competition by launching its staking services.
ConsenSys revealed that MetaMask is introducing a pooled staking feature for its users. This feature will allow Ethereum holders to stake their holdings without needing the standard volume required of validators.
Typically, Ethereum staking involves locking up 32 ETH, which is currently valued at approximately $112,000.
Lido Dominates Ethereum Staking
However, MetaMask is not the first to offer this feature. Platforms like Lido and Rocket Pool have been providing similar staking opportunities for some time.
Lido, for example, gives stETH in return for staked ETH, allowing holders to use stETH for additional activities. This option was not included in the ConsenSys offering.
Further, it was announced that this service will not be available in the US and UK.
MetaMask’s pooled staking will be backed by Consensys Staking. According to Dune Analytics data, Consensys ranks 28th among staking platforms.
The data shows that it currently manages about 101,000 ETH and operates around 3,000 validators.
Further analysis revealed that over 33 million Ethereum has been staked to date, representing 27.56% of the total ETH supply.
Lido holds a 28.76% share of the staked volume, equating to about 9.5 million ETH staked with Lido, supported by about 297,000 validators.
This makes Lido the platform with the largest share among Ethereum staking platforms.
Decline in New Ethereum Stakers
Despite the increasing total value of Ethereum staked, the number of new stakers is decreasing.
CryptoQuant analysis showed a significant drop in new depositors in recent days.
As of 9th June, the number of new daily depositors was over 3,700. Currently, the number has dropped to around 540.
