According to an announcement published on 27 April, the fast-paced growth was a result of several different factors. MetaMask Swaps, a token swapping service integrated into the wallet in October 2020, has witnessed over $2 billion in accumulated transaction volume in the past six months.
There has also been an increase in the number of people living in the “Global South” — a term used to describe the emerging economies in the southern hemisphere, most notably Asia, Africa, and South America — using MetaMask.
ConsenSys said that India and Indonesia are both in the top 5 countries in terms of MetaMask mobile adoption, while Vietnam and Nigeria are in the top 10. The company also said there has been an increase in the number of people using MetaMask to earn supplemental income and make long-term investments.
Another major factor that contributed to MetaMask’s user growth is the recent NFT craze. Accessing NFTs is now the second most popular use case for MetaMask, only behind swaps.