DeFi Boom Helps Metamask Crypto Wallet Set Million Record

CONTENT

  • The number of monthly active users of the Metamask crypto wallet has exceeded 1 million.

  • DeFi boom drives 400% growth since 2019.

  • Almost $ 11 billion in assets are currently blocked in the DeFi segment.

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Metamask’s monthly cryptocurrency wallet users reach an impressive 1 million mark.

The unrelenting interest in the decentralized finance (DeFi) industry has also driven the rise in popularity of cryptocurrency wallets, including Metamask. The project team reported on October 6 that the monthly number of active users of the Metamask wallet has just reached and exceeded the important level of 1 million..

Educational: How to set up MetaMask wallet and add DeFi Tokens

MetaMask has exceeded 1 Million Monthly Active Users! We’re humbled to be supporting such a curious, vibrant and passionate community. To learn more about our growth journey, check out our latest blog post https://t.co/BJJFtQtznl#metamask #ethereum # web3

– MetaMask (@metamask_io) October 5, 2020

What is Metamask? How to use the best crypto wallet to connect to the TOP DeFi Projects in 2021

The new metric heralded a 400% increase in Metamask over the past year. In addition, in February, the BeInCrypto editorial staff already said that the wallet set its first “millionth” record – at that time the total number of its users exceeded 1 million for the first time..

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DeFi is the main driver of growth

Metamask is one of the most popular wallets focused on Ethereum and ERC-20 tokens. Accordingly, such an influx of users is completely understandable in the context of the boom in the DeFi segment. Decentralized finance (DeFi) is financial services built on the basis of blockchain technology that offer users access to an open, efficient and … More , which is now taking place on the basis of the Ethereum blockchain and offers investors many different fashionable ways to earn money, such as profitable farming.

Ethereum is home to some of the most popular DeFi platforms including Uniswap, Maker, Aave, Curve, and Yearn. In order for users to be able to inject or withdraw liquidity, as well as to make token swaps, all these platforms need access to crypto wallets like Metamask..

Over a Million people are trying to MAKE MONEY on Ethereum using MetaMask

As a result, the growth in liquidity and collateral across the DeFi industry has gone hand in hand with an almost parabolic growth in Metamask users..

In early September, the project also announced the launch of a mobile version of the wallet. The app, available on the Apple App Store and Google Play, has become another additional factor in the growing popularity of Metamask..

DeFi Boom Helps Metamask Crypto Wallet Set Million Record

“Over the past 12 months, the strong growth in the adoption of Decentralized Autonomous Organizations (DAOs), Web3 Games, and DeFi industry products and services have driven our project’s growth curve to accelerate.”.

Keep it up

However, the Metamask team still has a lot to strive for. For example, some believe that this wallet is still difficult to understand intuitively among those who are not too versed in the intricacies of transactions on the blockchain..

Unsurprisingly, in response to the Metamask announcement, the crypto community responded with comments demanding to expand the wallet’s functionality. So, many mentioned a more intuitive user interface, improved stability and control over gas use, and some lacked the hardware (hardware) wallet Metamask.

Meanwhile, the DeFi market promises to sustain these positive trends. Recently, the total dollar value of assets blocked in this segment (TVL) dipped below the $ 11 billion mark, but overall the growth curve remains very bullish..

DeFi TVL – DeFi Pulse

Disclaimer

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DeFi Boom Helps Metamask Crypto Wallet Set Million Record
DeFi Boom Helps Metamask Crypto Wallet Set Million Record
DeFi Boom Helps Metamask Crypto Wallet Set Million Record

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