Crypto wallet MetaMask has announced that it currently has nearly as many active users as at the peak of the last bull market. The MetaMask team reported that the number of monthly active users increased by 55% in four months, from 19 million in September to over 30 million in January. The team highlighted that these figures are almost the same as the record levels seen in January 2022, which counted 31.7 million active users.
Striking Statements from the MetaMask Team
During that period, Bitcoin and Ethereum were falling from their all-time highs and are currently trading at similar levels. Bitcoin’s price has doubled in the last six months, while Ethereum’s price has increased by approximately 70%. MetaMask reported surpassing 10 million monthly active users in August 2021.
MetaMask allows users to store and transact their crypto assets through a browser extension and a mobile app. Consensys’ senior product manager Barbara Schorchit made the following statement regarding the matter:
“A user is considered anyone with the MetaMask extension or mobile app installed. We define a monthly active user as someone who loads a page in the MetaMask extension or opens the mobile app at least once in any 30-day period. These moments represent the two highest levels of all time for MetaMask, the 2022 bull market peak and today’s figures.”
Competition Heats Up Among Web3 Wallet Platforms
The past year saw increased interest in a number of rival Web3 wallets such as Rabby, Rainbow, Zeal, and Phantom, indicating that MetaMask could maintain its market share as the Web3 ecosystem grows. MetaMask, built by the Ethereum development studio Consensys, also announced an increase in active users, along with the news that the Web3 security tool Blockaid can now be enabled by default for multiple blockchain networks.
The Fort Worth-based company integrated Blockaid into its primary offering last October as part of a beta phase that allowed users to join what was initially described as an experimental system.
Last month, MetaMask enabled Blockaid’s alerts for the Ethereum mainnet through its browser extension, and now the same service is being provided to users for Polygon, Arbitrium, Optimism, Avalanche, BNB Chain, and Linea, both through the app and the extension.
