Total Metamask Users
Q1. How many total Metamask wallet holders are there? What’s the average value of ETH held in wallets? What percentage of wallets are engaging in a higher order activity, like staking?
Goal:
Familiar with MetaMask users
Questions:
- How many total Metamask wallet holders are there?
- What’s the average value of ETH held in wallets?
- What percentage of wallets are engaging in a higher order activity, like staking?
Solutions:
To answer this question, I used ethereum.core.ez_dex_swaps
table. We consider all wallets that have interaction with MetaMask contract address are MetaMask users.
The MetaMask contract address is 0x881d40237659c251811cec9c364ef91dc08d300c
.
In the below chart, I show daily unique MetaMask users.
As you can see, The number of Metamsk users was increasing until the end of 2021, but after that, the number of users decreased due to market conditions.
At the peak of this metric, nearly 13K people use MeaMask to swap their tokens while this amount has now reached 2K.
In general, the number of Metamask users in the bull market is more than in the bear market.
In the below query, I show the total unique users who used the MetaMask swaps.
As you can see, based on my analysis more than 1M users used MetaMask swaps for their trades.
The next question asked us to find the ETH balance of who we find as MetaMask users. In the below chart, I show the daily average balance of wallets which used MEtaMask swaps.
According to the above chart, The balance of MetaMask users is decreasing in both ETH and USD. We expected the ETH balance of these wallets to decrease as the ETH price increased, but as you can see, this decrease is also seen in the dollar balance.
This is another result of the bear market.
In the below query, I show the current ETH balance of users who used the MetaMask swaps.
As you can see, On average there is 0.78 ETH in wallets that used MetaMask swaps for their trades.
In the last part, I show what percentage of MetaMask users are engaging in staking.
As you can see, only 4.64% of MetaMask users are engaging in staking activity.