Try Quests to earn cryptoIn this analysis, You will read about the Most common transactions by Metamask users on the Ethereum blockchain. We want to know What are the most common transactions for Metamask users? Create an analysis that shows the most common wallet activities and the most common platforms for those activities.
All Data in this Analysis is from January 1st, 2021 on the Ethereum.
MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications. Wikipedia
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How I Found Metamask Users?
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- I did some research and found three contract addresses of Metamask. Any interaction with these addresses, I imagine those wallets are Metamask users. Contract addresses: '0x11ededebf63bef0ea2d2d071bdf88f71543ec6fb', '0xf326e4de8f66a0bdc0970b79e0924e33c79f1915','0x881d40237659c251811cec9c364ef91dc08d300c.
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Then I dig in to find What exactly Metamask Did. Let's Find out.
The below chart shows the total transactions that Metamask users did.
- This graph shows the total daily number of transactions since 2021.
- Until January 2022, The total daily transactions were 60K-80K daily.
- After January 2022, The total transactions decreased.
- The total daily transactions decreased to 30K recently.
- The Cumulative number of transactions reached 35M.
First, Let's see which tokens were most popular with Metamask users.
- WETH was involved in 19M transactions.
- Stablecoins are on the top list. USDC, USDT, and DAI.
- Wrapped Bitcoin is in the top list with 400K transactions.
- I can see some tokens that I didn't hear those names. Like Strong or HEX.
- From New tokens, Looks involved in 568K transactions.
- Uniswap was involved in 60% of total transactions.
- The second one is Hop Protocol with 2M tx which is 12%.
- The third platform is Sushiswap which Metamask interacted most with 5.8%.
- I can see two NFT platforms that became on the top list. Opensea and Looksrare with 2% each.
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- IMPORTANT NOTE: I eliminated METAMASk from this result.
The below chart shows the total number of transactions per Platform. To understand this chart let's see the next chart.
This Animation chart shows platforms trending by Metamask Users.
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- There are some platforms that growing fast.
- NFT platform: You can see Opensea as an NFT marketplace is growing fast and becoming in the Top 5.
- DEXs: Dexs is always growing. Swap is the most activities for each user.
- Staking platforms are the next trend in the market.
- Bridges: Hop protocol as a bridge is becoming in the top 3.
Let's See which field is popular for Metamask users.
- Dexs with 61% of total transactions are in the first place.
- Layer2 which refers to bridges is in the second place with 10% of transactions.
- Dapps: Dapps are in third place with 9% of transactions.
Let's examine what Metamask users did.
- Swaps are in the first place with 12.5M transactions.
- The second understandable title is bridges.
- The third category is pools.
The below chart shows the top daily activities of Metamask users.
I think Metamask users are key parts of the market. They did more than 35M transactions. We can't call them specifically Metamask users. For example, a user that wants to use Curve.fi. Prefer to install Metamask and use that platform.
- The most popular activity is swapping.
- I can name Bridges, Dapps, NFT world, and pools as popular activities by Metamask users.
- Uniswap and Hop are the most popular platforms by Metamask Users.
Written By Hess
where
discord_id: hess#0890
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twitter_id: hessaminanloo
Prediction: Possible for GP :D