MetaMask has announced that in September it reached the important milestone of one million active users per month.
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
At the end of 2019, the number of active unique users during the month was less than 250,000, so in just nine months it quadrupled.
In fact, until April it had never exceeded 300,000 and in June it had exceeded 400,000.
There was a real increase from July, when there were more than 700,000 users, while in August more than 800,000.
This curve is very reminiscent of the trend towards the adoption of DeFi protocols, suggesting that many new MetaMask users have arrived in the last few months to use the tools of decentralized finance.
On the other hand, MetaMask is one of the most widely used Ethereum wallets, and the vast majority of DeFi protocols are based on this same blockchain.
New active users with Metamask Mobile
Furthermore, the recent launch of MetaMask Mobile It has helped attract new users, especially among those who do not use the computer much.
MetaMask Mobile, in particular, is achieving successes in the US, India, Nigeria and the Philippines, and this clearly reveals that, with the obvious exception of the US, it is non-computer users who are most willing. to exploit that.
In addition to DeFi protocols, the growth of MetaMask has also been driven by DAO and Web3 games.
According to MetaMask itself, its success is not only due to the possibility of using this wallet to receive, store and send ETH and other ERC-20 tokens.
"When you think about it, people don't really want a wallet. They want to invest, sell, lend, borrow. They want to use sites like Uniswap, Yearn, Curve, Maker, and Aave to do that job. MetaMask is simply the connective tissue ”.
In particular, it would be its use within compatible sites to attract the largest number of users.
However, the increasing use of ERC-20 tokens, DeFi protocols, and Ethereum wallets makes it more and more necessary to find a short-term solution to the problem of congestion and scaling the Ethereum network.
Ethereum 2.0 does not appear to be available in the near future, so it will at least be necessary to test other ways to avoid that network congestion can significantly reduce the usability of these tools.