MetaMask, the popular DeFi gateway crypto wallet, has surpassed 10 million monthly active users.
According to Consensys, Metamask parent company, this represents a 19x growth since July 2020 and over 1, 800% in just one year making it the leading non-custodial wallet.
MetaMask, a non-custodial cryptocurrency wallet which can be accessed through a mobile app and browser extension. enables users to interact with the Ethereum blockchain and any Ethereum-compatible network like Polygon, Arbitrum, and Optimism.
As a non-custodial wallet, users on Metamask own their private keys, giving them full control of the wallets. This differs from digital custodial wallets such as those offered by centralized exchanges where users only get permission to send and receive payments.
Some of the reasons behind the wallet’s exponential growth include:
Its growth comes as total value locked on Ethereum has grown to over $80 billion from $2 billion in 2019
The mobile app has been popular towards fuelling web3 usage in Asian countries, such as the Phillipines, Vietnam, China, India, Indonesia, Thailand, and Brazil
Metamask is a key gateway into over 17, 000 web 3 applications such as NFT online-games, and trading sites
ConsenSys attributes the launch of token swaps on MetaMask Mobile in March 2021 also exponentially accelerated user growth
Speaking about this growth, MetaMask Co-Founder, Dan Finlay, said:
“MetaMask defined a new kind of cryptocurrency wallet, where users don’t just interact with currencies, but with decentralized applications, and we are constantly making these new kinds of applications more safe and accessible to a broader audience.”
– Co-Founder, Metamask
ConsenSys also revealed its key growth markets are in Asia, Europe and North America. The top 15 countries with most MetaMask users are: