Metamask wallet grows by over 400% in one year, hits 1M monthly active users

Between March and September, Metamask wallet crossed the 250k monthly active users region and smashed above 1 million.

By · Oct 6, 2020 . 5min read

Metamask wallet 1M users latest news
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Crypto wallet Metamask is experiencing hyper-growth this year. It reached 1 million monthly active users, shooting by over 400% growth in one year. Metamask has just released a report showing how the web3 software company has fared in a little above 12 months after its last report in May 2019.

Among the strongest factor fuelling Metamask’s growth is the DeFi boom the cryptocurrency industry saw this year. Metamask was launched in 2016, one year after Ethereum’s creation. It has been on track to make access to the budding Ethereum ecosystem easy especially as the gateway to DeFi.

Asides DeFi, dapps, web three applications, etc., critically need an easy access point for users to be able to interact with them. This is what Metamask affords project developers as well as dapp consumers. Metamask championed this cause with its desktop wallet relentlessly until the launch of its mobile wallet recently.

As mobile wallets ensure better user experience, Metamasks’s growth curve responded to the recent spike in DeFi. Between March and September, Metamask wallet crossed the 250k monthly active users region. Thus, smashing above 1 million.

Metamask wallet grows by over 400% in one year, hits 1 million monthly active users

Metamask 1 million wallets download correlates with DeFi’s recent growth.

Safe to say Metamask’s growth curve in 2020 is similar to DeFi growth as both have increased exponentially within a short time frame. It reports four countries across three continents where it records its most mobile wallet downloads. The USA in North America tops the list, followed by India and the Philippines in Southeast Asia are also it’s top spots. Furthermore, Nigeria, a top West African country that has consistently topped the Google search for Bitcoin.

And as Metamask reported, users are not necessarily looking for a wallet to store their crypto holdings.

They want to use sites like Uniswap, Yearn, Curve, Maker and Aave to get that job done. MetaMask is simply the connective tissue.

So, Metamask mobile and desktop wallets support a broad range of functions. Whether users are looking to purchase ETH and safely store it, they have solutions for all. Moreover, it also allows users to browse DeFi protocols and exchanges, and connect their wallets directly to these sites to trade easily and securely.

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