Most Common Transactions

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    Introduction

    MetaMask is a free web and mobile crypto wallet that allows users to store and swap cryptocurrencies, interact with the Ethereum blockchain ecosystem, and host a growing array of decentralized applications (dApps). It is one of the most widely used crypto applications in the world.

    In this dashboard we are going to find out about most common transactions for Metamask users. the most transaction activities, most transaction events and most used platforms will be compare between all users an Metamask users on Ethereum blockchain.

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    Method

    • In this dashboard, We are considering users of metamask swap users on Ethereum as a Metamask user. there will be many Metamask useres that haven't used this feature on Ethereum. but in this dashboard, when a user used Metamsk swap feature for at least once, it considers as Metamask user.
    • For this report, In order to consider normal users of Metamak, all eligible wallets that had labels in Dim.Labels table are excluded.
    • So, In this dashboard, identified users for further analysis are those addresses that had interacted with Metamask swap feature and hadn't have labels assigned in Dim.Labels table.
    • In this dashboard, the past 6 months is considered for the analysis.
    • Most Transaction activities and most used platform are extracted from number of transactions sent to those wallets.
    • Most transaction evens are extracted from Event_logs table.
    • Events like Transfer, Approval, ApprovalForAll and TransferSingle are excluded from results because these are common events when a user interacts with a smart contract.

    In the following charts, we can see Transaction Activity for all transactions and Metamask users:

    • NFT-related transactions rate for Metamask users is greater more than 50% of all on-chain transaction.
    • Metamask users' usage rate of DEXs and DAPPs are greater than all on-chain transactions.
    • Metamask users interact less with layer2 than all users of the Ethereum blockchain.
    • Metamask users usage of CEXs (sending asset to CEXs), in compare with all transactions with CEXs are very low. It seems that Metamask users rather using DEXs instead of CEXs.

    In the following charts, we can see Most Transaction Events for all transactions and Metamask users:

    In the following charts, we can see Most Used Platforms for all transactions and Metamask users:

    • Swapping in Transaction events in both Metamask users and all users have the highest occurrence.

    Let's see OrdersMatched and Deposit events are most occurred on which activity and platform for Metamask users:

    • OrdersMatched event is realated to NFT trading.
    • Deposit events were mostly with WETH Token in DEXs.
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    • Opensea usage in top 10 platforms for Metamsk users is about 39% while it is about 25% for all users.
    • Uniswap has 2nd ranking of most used platforms for Metamask users.
    • Hop protocol has 2nd ranking of most used platforms for all users while its rank for Metamask users in 5th.

    Conclusion

    • Most common activities of Metamask users are using DEXs and Trading NFTs. The platforms that most used with Metamask users in this categories are:
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    Most used platforms:

    • DEXs:
      • Uniswap
      • Metamask
      • 1inch
    • NFTs:
      • OpenSea
      • Gem
      • Looksrare