MetaMask Ethereum Wallet Hits 5 Million Monthly Users .

Live News for Picoin

207 Views

        

Share this article

MetaMask has seen its usage stats grow significantly over the past six months, according to a report from ConSensys.

Usership Grows Five-Fold

In the past six months, MetaMask usage has grown by a factor of five, as the Ethereum and DeFi wallet now has 5 million monthly active users (MAUs) on desktop and mobile.

It also says that accumulated transaction volume has doubled to $2 billion after hitting $1 billion last month.

MetaMask monthly active users over time. Source: Consensys.

The availability of the mobile app in developing countries has contributed to growth. ConsenSys believes that MetaMask’s quick growth stems from interest in the Global South, with India, Indonesia, Nigeria, and Vietnam leading the way in terms of adoption.

ConsenSys suggests that its app is popular in developing countries because many users in those areas trust crypto over traditional banking services or cannot access banking services at all. “Increasingly, [they] use MetaMask to earn a supplemental income or to make long-term investments,” ConsenSys says.

Other Uses for MetaMask

Global adoption is not the only factor driving Metamask’s growth.

Additionally, MetaMask’s new swap feature is increasingly being used by traders to find the best rates across multiple decentralized exchanges. It charges a significant 0.875% service fee.

Finally, ConsenSys drew attention to the NFT boom, which has attracted users to tokenized artwork, game items, and collectibles. ConsenSys says that NFT transfers are the second most common use case for MetaMask after token swaps.

Disclaimer: The author held BTC, ETH, and a number of other cryptocurrencies at the time of writing.

This news was brought to you by ANKR, our preferred DeFi Partner.

Share this article



NEW INNOVATION AT 2021 FOR THE CRYPTO CURRENCY. BIG OPPORTUNITY. FREE DOWNLOAD and FREE COINS.

( π ) Pi is a new digital currency developed by Stanford PhDs, with over 15 million members worldwide. To claim your Pi, follow this link https://minepi.com/yildiztekin Download from your mobile phone and use username (yildiztekin) as your invitation code. Then mine from your mobile or desktop to collect Pi coin everyday.