MetaMask User Count Zooms Past 1mln as DeFi Rage Continues Oct 6, 2020 Oct 6, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 6, 2020 by Kelly Cromley

MetaMask User Count Zooms Past 1mln as DeFi Rage Continues

Browser based Ethereum (ETH) wallet MetaMask, created by ConsenSys, has exceeded monthly active users of over one million for the first time.

The landmark has come about seven months after the wallet initially exceeded one million users overall, reflecting the exponential growth of decentralized finance (DeFi) in 2020 and its contribution to the jump in MetaMask’s client base.

In a media release, MetaMask has pointed out that popular DeFi covenants Uniswap, Yearn Finance, Curve, MakerDAO, and Aave are the most preferred by its users, underlining its dedication to back the growth of DeFi in the months ahead:

“Over the last twelve months, significant growth in the adoption of DAOs, Web3 games, and the rapid consumer uptake of DeFi products and services has further accelerated our growth curve.”

As per DeFi pulse, since February, average monthly users of MetaMask has tripled, but below the 10x increase in the amount locked in DeFi covenants during the same span of time. MetaMask also rolled out a mobile variant of its wallet on September 4, possibly aiding the sharp rise in monthly users.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.