• Metamask recently announced a feature that will allow users to stake on Lido, the largest staking pool on Ethereum.
• Data from Dune Analytics showed that Lido held a 29.06% market share for staking, and the number of validators on the Ethereum network has reached an all-time high of over 500,000.
• Following the announcement, LDO saw a positive reaction, rising by around 5% as of the time of writing.
Metamask recently announced a new feature that will allow users to stake on Lido, the largest staking pool on Ethereum. This move is set to significantly affect how users gain access to Ethereum staking pools, with the release of Metamask Staking now allowing users to stake Ethereum (ETH) via Lido, monitor their stETH token balances and convert their stETH back into ETH via MetaMask Swaps.
Data from Dune Analytics shows that Lido is currently the leader when it comes to staking pools on Ethereum, with a market share of 29.06%. This figure could increase significantly with the new announcement from Metamask as users take advantage of the new feature. Additionally, statistics from Beacon scan indicate that the number of validators on the Ethereum network has now reached an all-time high of over 500,000.
Following the announcement from Metamask, LDO, the token associated with Lido, saw a positive reaction. The asset ended the day in the green area, according to the Lido (LDO) daily timeframe chart that was examined, with a rise of around 5% as of the time of writing.
Overall, the new move from Metamask has the potential to significantly increase Lido’s market share when it comes to staking pools on Ethereum and could also lead to further growth of the Ethereum network. It will be interesting to see how this affects the LDO token in the coming weeks and months.