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MetaMask Tops 1M Monthly Active Users Following The 2020 DeFi Boom

  • MetaMask, one of the most popular desktop and mobile wallets allowing the purchase and storage of Ethereum-based tokens, has exceeded 1 million monthly users.
  • According to the Medium announcement, this milestone represents a 400% yearly growth.
  • The post attributed a significant part of the wallet’s expansion to the recently launched MetaMask Mobile version. It works on most mobile operating systems, including Android and iOS.
  • MetaMask Mobile has seen increasing adoption from users based in the United States, India, Nigeria, and the Philippines. 
  • Other wallet features that assisted with the massive user growth include the adoption of DAOs, Web3 games, and the booming popularity of DeFi products and tokens, which typically employ the Ethereum blockchain. 
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  • The team behind the popular wallet believes that enabling users to directly purchase and store ETH, browse DeFi protocols and exchanges, and connect wallets to those websites to trade efficiently and securely, has outlined MetaMask’s benefits among competitors.

MetaMask Monthly Active Users. Source: Medium

  • “This 2020 curve parallels the trend in DeFi adoption, indicating that new users are coming to MetaMask specifically to participate in the decentralized finance revolution.” – reads the statement.

  • Founded in 2016, MetaMask allows users to store Ether and other ERC-20 tokens. Apart from the mobile version, the wallet can also be used as a browser plug-in. 
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