Bitcoin

MetaMask reaches 1 million monthly users thanks to the rise of the DeFi sector

MetaMask, the wallet developed by ConsenSys, has more than one million active users per month for the first time.

The milestone is roughly seven months after the wallet first exceeded a million users, which suggests The parabolic rise of decentralized finance (DeFi) in 2020 fueled the growth of MetaMask’s user base.

In an advertisement MetaMask lists the most important protocols DeFi Uniswap, Yearn Finance, Curve, MakerDAO and Aave among its users’ favoritesand underscores its commitment to supporting DeFi growth in the future:

“Over the past twelve months, significant growth in the adoption of DAOs, Web3 games, and rapid consumer adoption of DeFi products and services has accelerated our growth curve.”

MetaMask reaches 1 million monthly users thanks to the rise of the DeFi sector
MetaMask reaches 1 million monthly users thanks to the rise of the DeFi sector

MetaMask monthly users have tripled since FebruaryAccording to DeFi Pulse, the total insurance value in DeFi logs has increased tenfold over the same period.

Total insured value in the DeFi industry over the past 12 months: DeFi Pulse

MetaMask released a mobile version of its wallet on September 4thwhich probably helped increase the number of users.

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