MetaMask Surpasses 5 Million Monthly Active Users
- MetaMask surpassed 1 million users in October 2020.
- ConsenSys said that the recent rise in popularity NFTs and swaps have seen has contributed to its user growth.
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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.
- MetaMask expanded its partnership with MoonPay to allow users in Nigeria to buy cryptocurrencies directly from its mobile wallet app and Portfolio dApp.
- MetaMask noted that the new crypto on-ramp feature will be expanded to other African countries in the coming month, including Kenya, Botswana, and South Africa.
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- The company noted that it will continue to operate, and that the 90% withdrawal limit will help it better navigate the prolonged bear market.
- Wyre CEO Yanni Giannaros has transitioned into a new role as executive chairman, while its CRO and CCO, Stephen Cheng, is taking the role of interim CEO.
- MetaMask Bridges was designed to aggregate multiple blockchain bridges in one place, making it easier and more secure for users to transfer their assets from one network to another.
- The new feature currently supports the Ethereum, Avalanche, BNB Chain, and Polygon blockchains, as well as the Connext, Hop, Celer cBridge, and Polygon Bridge.