Ethereum staking: How MetaMask’s new offering stacks up against Lido

• Lido leads Ethereum staking with over 27%.
• MetaMask has launched a new staking feature similar to Lido’s

Ethereum [ETH] staking has gained popularity ever since the network transitioned from Proof of Work (PoW) to Proof of Stake (PoS). Numerous platforms have been offering staking services for retail stakers, and recently, MetaMask has joined the fray by providing its staking services.

New Ethereum staking feature unveiled

In a recent development, ConsenSys announced that MetaMask is launching a pooled staking feature for its users. This new feature will allow Ethereum holders to stake their holdings without needing the standard volume required of validators.

Ethereum staking usually involves locking up 32 ETH, which is currently valued at approximately $112,000. 

However, MetaMask is not pioneering this feature. Platforms like Lido and Rocket Pool have long provided similar staking opportunities.

Lido, for instance, offers stETH in return for staked ETH, allowing holders to use stETH for additional activities. The option was not part of the ConsenSys offering. Also, according to their announcement, this service will not be available in the US and UK.

Lido leads Ethereum staking

MetaMask’s pooled staking will be supported by Consensys Staking. According to an analysis of data from Dune Analytics, Consensys ranks 28th among staking platforms.

The data revealed that it currently manages approximately 101,000 ETH and operates around 3,000 validators.

Further analysis showed that over 33 million Ethereum has been staked as of this writing, representing 27.56% of the total ETH supply.

The study also indicated that Lido holds a 28.76% share of the staked volume. This equates to about 9.5 million ETH staked with Lido, supported by around 297,000 validators.

This makes Lido the platform with the largest share among Ethereum staking platforms.

New Ethereum stakers drop

Analysis showed that although the total value of Ethereum staked has been increasing, the number of new stakers has been declining.

Source: CryptoQuant

Read Ethereum (ETH) Price Prediction 2024-25

An analysis of new depositors on CryptoQuant showed a notable drop in the last few days.

The chart indicated that as of 9th June, the number of new daily depositors was over 3,700. As of this writing, the number has dropped to around 540.