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- 1 MetaMask has a total of 1,763,406 unique traders with a slight decline in the daily active traders.
- 2 ConsenSys, the MetaMask developer, recently said that the crypto wallet does not collect taxes on the blockchain transactions.
What Is MetaMask?
MetaMask is a non custodial Ethereum wallet which provides users full control over their keys and funds. It is available as a browser extension or as a mobile app with secure login and with various other features to manage the digital asset. MetaMask allows users to send and receive Ethereum based crypto and NFTs.It also gives their users a way to connect with the Dapps while being in control with what you are interacting with. MetaMask also helps users to store their data privately and users can decide what to share and what not to. MetaMask was developed by Consensys which has a strong team of developers.
MetaMask recently became the first wallet to allow USA users to buy Ethereum easily with Paypal. MetaMask users in the US can use Paypal to buy cryptocurrencies. ConsenSys also recently debunked a myth that they are collecting taxes on blockchain transactions. The company informed people through their Twitter handle that the rumors are based on misreading some of the terms and conditions.
A Look Into MetaMask Analytics
MetaMask has 1,763,406 unique traders with 16,051,676 total trades as per Dune Analytics. The number of daily traders and daily trade has seen a significant decline from the start of 2023. The daily trades on MetaMask has seen a drop from the high of 42,220 to 15,534 trades. The annualized trading volume of the crypto wallet as per the token terminal has seen a jump of 17% and is near $5.92 Billion.
The maximum number of swaps on MetaMask is in between 2 to 5 trades which amounts to 56% of the overall trades. The total volume share as per the Blockchain is highest among Ethereum. The rest of the other blockchains constitute over 17% of volume on Metamask The weekly average collection of MetaMask Swap fee is around $1,504,115 assuming the 0.875% of fees across all trades. MetaMask Bridge has also been seeing a slight surge in the volume.
Summary
MetaMask has become one of the most used crypto wallets among the crypto traders. It has become a one stop solution to store digital assets and connect with the blockchain apps. MetaMask airdrop has also been one of the hottest topics on Twitter. It would be interesting to see how much market share MetaMask retains in the next few years.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
