MetaMask, a leading crypto wallet, has made a remarkable comeback, nearing its peak user engagement as the crypto market braces for another bullish surge.
This resurgence in active users mirrors MetaMask’s previous high in January 2022, which recorded 31.7 million users.
MetaMask Records Stellar User Growth
MetaMask has witnessed a 55% increase in monthly active users over four months. The count soared from 19 million in September to over 30 million in January.
Concurrently, Bitcoin (BTC) and Ethereum (ETH) have shown impressive price recovery. Bitcoin’s value has doubled in the past five months. Meanwhile, Ethereum has seen a 90% increase in the same time frame. These trends are reminiscent of the late 2020 crypto highs, hinting at a potential bull run.
Read more: A Complete Guide to Using MetaMask
MetaMask facilitates user engagement by allowing self-custody and management of crypto assets through a browser extension or mobile app.
Barbara Schorchit, a Senior Product Manager at Consensys, clarifies that an active user is anyone who interacts with MetaMask at least once within a 30-day period.
“These moments, the 2022 bull market peak and today’s figures, represent the two all-time highs for MetaMask,” Schorchit said.
Bull Market Beginnings?
Despite the rise of competitors like Coinbase Wallet, OKX Wallet, and Phantom, MetaMask’s growth signifies a wider acceptance of web3 technologies.
However, Google Search Trends indicates that the general interest in crypto has yet to peak. The “crypto” Google search term has not even yet reached mid-popularity.
Read more: MetaMask vs. Coinbase Wallet: A Comparison and Analysis.
Nevertheless, the upcoming Bitcoin halving event could shift this dynamic. Scheduled in less than 60 days, it has historically been a precursor to significant market rallies.
Previous halvings in 2012, 2016, and 2020 led to substantial Bitcoin value increases. These patterns suggest the next bull market could peak around April or October 2025.
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