Metamask Stakes Huge Amount in Ethereum (ETH)
Author: Leo PriceThe Shapella upgrade to the Ethereum protocol allows users to easily participate regardless of their familiarity with cryptocurrency. It allows for simple staking of ETH tokens in exchange for rewards, and is aimed at this broadening the scope of potential people involved in Ethereum. This move of Metamask coming out in support of Ethereum's staking protocol is not unexpected, given the strong tie the wallet's parent company, ConsenSys, has with the money digital asset.
As of the time of this article, Ethereum has not seen a shift in its price as a result of the stake. Ethereum (ETH) is currently trading at $1,824.81, down from a 24 hour period. Despite this, the staking activity of Metamask should give confidence to other prospective stakers to consider making this move. If more stakeholders decide to tie up their funds in staking, the circulating ETH supply would decrease, which would give ETH room to increase its price to an even higher peak.