Metamask, the decentralized and non custodial wallet services provider, is showing its commitment to the Ethereum proof-of-stake (PoS) protocol by staking a total of 62,240 ETH tokens. That amounts to a staggering $114 million at the current market rate. Metamask is fast becoming one of the leading Ethereum stakers following the launch of the Shapella upgrade, which has given stakers the ability to easily unstake and withdraw their tokens.

The 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.



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