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.