Total Metamask Users

    What Will You Read?

    In This Analysis, You Will read about Metamask Users. We want to know How many total Metamask wallet holders are there? What’s the average value of ETH held in wallets? What percentage of wallets are engaging in a higher-order activity, like staking?

    What is Metamask?

    MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications. Wikipedia

    Method

    I examined Metamask swap router contract which is 0x881d40237659c251811cec9c364ef91dc08d300c on Etherscan. I Understood that each swaps going to Metamask address. So i Used ethereum.core.fact_token_transfers and set origin_to_address equal Metamask address. To extract distinct wallets, I set origin from address equal to address.

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    The Below chart shows the total number and cumulative unique addresses that were used Metamask.

    • Metamask users started in October 2020.
    • Since January 1st, 2021, The total number of unique users increased.
    • The Daily Average unique users of Metamask reached 4-5K daily.
    • The highest number of users that used Metamask to Swap their assets happened on December 25th with 14K users.
    • The cumulative unique users reached 2M.
    • The total number of unique users that used Metamask to swap their assets reached 780K.
    • The average ETH in Metamask users is 1.19 ETH.
    • 67% of Metamask users have below 0.1 ETH in their wallets.
    • 19% of Metamask users have 0.1-0.5 ETH in their wallets.
    • 7.4% of Metamask users have 1-10 ETH in their wallets.
    • Nearly 5% of Metamask have 0.5-1 ETH in their wallets.
    • Only 1.3% of users have more than 10 ETH in their wallets.
    • Metamask users have participated in higher-order activities like staking.
    • 80% of users staked and 20% were not staked.

    Lido is a platform where users can stake their ETH.

    • 1.3% of Metamask swap users, Staked on Lido.
    • Below 1% of Metamask users participated in Borrow and Lend on Sushi.

    Conclusion

    • From January 2021 until June 2021, The total unique users increased but after that Metamask keep its users and didn't grow too much.
    • With digging Metamask user balances, it seems normal users use Metamask daily and whales did not use Metamask.
    • The percentage of participating in other activities seems good. It shows Metamask users were active in Crypto Market.

    Thank You For Reading!

    Written By Hess

    where

    discord_id: hess#0890

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    twitter_id: hessaminanloo