MetaMask crypto wallet hits 1 million users, courtesy massive growth in DeFi space

MetaMask has all the great tales to share of late. The leading browser wallet reached the esteemed mark of 1 million monthly users (active) in September which denotes a proliferating 400 percent Year-to-Date growth, following the figure of 264,000 users the wallet acquired last year. MetaMask’s recent stellar rise in monthly user base is widely credited to the increasing interest in the concept of Decentralized Finance and growing adoption of DeFi assets.

MetaMask is a popular extension used to access Ethereum-based Dapps through major browsers such as Google Chrome. It is designed to “read” the ETH code embedded on any kind of website, offering users an easily accessible and seamless tool for convenient interaction with varied blockchain products and Dapps. The wallet is also compatible with other top browsers like iOS, Android as well as Brave.

DeFi boom and MetaMask growth

As per market stats, MetaTask started experiencing an exponential hike in user activity since June this year when the number of members rocketed to a huge 1,250,000 from just 250,000 in December 2019.  The very same month the crypto world too witnessed the start of the DeFi boom, especially with the launch of COMP token by DeFi asset Compound. 

Per the statements from MetaMask executive team, the widespread adoption of Web3 games, DAOs as well as growing interest in DeFi products has been largely instrumental in shooting the recent growth of the browser wallet. The facility to access numerous Dapps right from the convenience of one Dapp has contributed big time in spiking up the user base for MetaMask. 

“MetaMask’s 2020 growth curve is directly proportional to the increasing trend of adoption of DeFi products”, stated a leading spokesperson from MetaMask while explaining the correlation between improved user base of MetaMask and growing DeFi boom. 

“The trend indicates new user-members are joining MetaMask especially to be a part of the ongoing DeFi revolution.”

Speaking further, the spokesperson stressed MetaMask’s recent growth curve is not only because of its advanced platform that allows to purchase as well as store ETH safely. People don’t just look for a wallet. In fact, they are more interested in investing, selling, lending and borrowing. They wish to use online platforms such as Curve, Yearn, Uniswap, Aave and Maker to get it done. This is where MetaMask comes as a connective tissue, helping users with easy accession to all these sites.

DeFi sites which integrate with MetaMask to provide a seamless and safe trading experience have helped to pull in more numbers of MetaMask users of late. On the other hand, MetaMask assures an inviting experience for users by offering a reliable portal to buy and store ETH, browse different DeFi protocols & exchanges as well as connect wallets straight to all these sites for secured and convenient trading. 

MetaMask Mobile

Added to the recent DeFi boom, the release of the latest MetaMask Mobile too has played a crucial role in attracting huge numbers of users to the wallet community. The mobile version is bustling with a diverse range of communities, especially from top 4 countries like USA, India, Nigeria and Philippines. 

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