MetaMask, the major Ethereum browser extension, has hit one million monthly active users for the first time.
It has been reported that the milestone comes around seven months after the wallet first hit one million users in total, suggesting the parabolic rise of decentralized finance (DeFi) in 2020 has driven the surge in MetaMask’s user base.
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
However, MetaMask notes top DeFi protocols Uniswap, Yearn Finance, Curve, MakerDAO, and Aave among those favored by its users, highlighting its commitment to supporting the growth of DeFi moving forward.
The report stated:
“Over the last twelve months, significant growth in the adoption of DAOs, Web3 games, and the rapid consumer uptake of DeFi products and services has further accelerated our growth curve.”
According to the DeFi pulse, monthly MetaMask users have tripled since February, while the total value locked in DeFi protocols has increased by ten times over the same period.
Thus, MetaMask also released a mobile version of its wallet on September 4, likely assisting its push into seven-figure monthly users.