See More

MetaMask Reaches 10 Million Monthly User Milestone

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • MetaMask has grown by 1,800% over the past year
  • Asia dominates users with 40% of the top 15 countries
  • A 24-hour celebration party in Decentraland will be held
  • promo

The popular browser-based crypto wallet MetaMask has achieved a major milestone surpassing 10 million monthly active users.

On Aug. 31, the company behind the popular wallet, ConsenSys, reported that MetaMask has grown by more than 1,800% in a year. It has reached another major milestone, surging from 545,080 monthly active users in July 2020 to 10,354,279 in August 2021.

The massive growth has propelled the wallet and token swapping application to the “leading non-custodial wallet by users globally,” the company added.

Drivers of growth

The Ethereum software solutions firm stated that the growth and adoption of MetaMask have closely tracked that of the Ethereum ecosystem.

Referring to Ethereum collateral and DeFi, it added that MetaMask is the primary way a global user base interacts with DeFi applications which span an ecosystem of around 17,000 unique Web3 domains, and NFT platforms.

Dan Finlay, MetaMask Co-Founder, said:

“MetaMask defined a new kind of cryptocurrency wallet, where users don’t just interact with currencies, but with decentralized applications, and we are constantly making these new kinds of applications more safe and accessible to a broader audience,”

He added that “we’re letting users explore new ways of establishing trust on the internet,” but didn’t acknowledge that MetaMask is one of the top targets for scammers and hackers due to that popularity.

The popular crypto wallet has been criticized in the past for high fees and questionable blacklisting processes.

The top country geographically for MetaMask users is the Philippines, followed by the United States, Vietnam, U.K., and China in fifth. The other nations in the top fifteen are India, Russia, Brazil, Indonesia, Thailand, Turkey, Germany, France, Canada, and Spain. Countries in Asia make up 40% of the top 15 nations that use the wallet.

Be your own bank

Unlike centralized or custodial wallets, MetaMask “allows users to be their own bank and take control over their own finances in a private and secure way,” the blog post explained.

A 24-hour MetaMask party in the Decentraland metaverse is being held on Sept 2, 20:00 UTC to celebrate the milestone.

Finlay concluded that there will be continual improvements to the product but did not share any specific details:

“MetaMask owes its growth to our community. They are constantly coming up with new ways to build and organize, and are always pushing us to improve in countless ways. As long as we can continue to help unleash their creativity, while keeping users safe, I think we’ll have an exciting future.”

Top crypto platforms in the US | April 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

profile.jpg
Martin Young
Martin Young is a seasoned cryptocurrency journalist and editor with over 7 years of experience covering the latest news and trends in the digital asset space. He is passionate about making complex blockchain, fintech, and macroeconomics concepts understandable for mainstream audiences.   Martin has been featured in top finance, technology, and crypto publications including BeInCrypto, CoinTelegraph, NewsBTC, FX Empire, and Asia Times. His articles provide an in-depth analysis of...
READ FULL BIO
Sponsored
Sponsored