Source

Introduction

What is MetaMask?

MetaMask is a browser plugin that serves as an Ethereum wallet, and is installed like any other browser plugin. Once it's installed, it allows users to store Ether and other ERC-20 tokens, enabling them to transact with any Ethereum address.

By connecting to MetaMask to Ethereum-based dapps, users can spend their coins in games, stake tokens in gambling applications, and trade them on decentralized exchanges (DEXs). It also provides users with an entry point into the emerging world of decentralized finance, or DeFi, providing a way to access DeFi apps such as Compound and PoolTogether. (Source)

Methodology

• First, using the Metamask: Swap Router address counter and examining its transactions in etherscan.io, and according to the instructions in the question, swap transactions were considered as reference transactions, and the requested analysis was performed with this in mind.

• Then the total number of Metamask users from the beginning until now and also from the beginning until now was checked that several new Metamask users were added every day. The ethereum.core.fact_event_logs table was used for the above two cases.

• It was further examined that on average there are several ETHs in these wallets today. (Table flipside_prod_db.ethereum.erc20_balances was used)

• Finally, it was found that what percentage of these wallets were involved in staking.

Results

• About 1.3 million wallets created in 622 days. This means that on average, 1917 wallets are created every day. But in order to determine on which days Metamask experienced the ups and downs of user acquisition, the chart above was drawn.

• In the chart above you can see that on December 26, 2021, 6176 new wallets were created. This is the largest number of wallets created in a day, with a difference of about 2,000. December 26, 2021 can be called "Metamask Day".

• In May, September, November and December 2021 there are four almost identical peaks. No single interval can be found that has absolute superiority over other time periods.

• In the chart above, it can be clearly seen that the peak of Metamask user attraction is probably past. This is well illustrated by the declining trend of the last seven months. The downturn from May to August 2021 lasted only 4 months and decreased by about 50%, but in the last 7 months there has been a decrease of up to 75%. Both longer time and more reduction. Given the current state of the market, it seems unlikely that there will be a serious change in the future trend of new Metamask users.

• On average, there is $ 1,052 (equivalent to 0.877 ETH) per wallet as of today (June 25, 2022) when the ETH price is around $ 1,200.

Key Findings

• Metamask is one of the largest crypto wallets in the world. The fact that on average more than 1900 new users are attracted to this wallet every day is a good indication of its greatness.

• In the near future, we may not see a positive trend in the number of new Metamask users.

• New users do not show much interest in stacking their assets.

• On average, out of every 100 new Metamsk users, about 17 of them have stacked their assets on one of the relevant platforms.