Introduction

In the context of trading, swapping tokens refer to the exchange of cryptocurrency that you already have for another. It doesn’t involve any crypto-fiat exchange. Swapping tokens can be done with the help of swap service providers/Decentralized Exchanges(DEX).

MetaMask has an in-built feature for swapping coins. Users can swap their ERC-20 tokens faster with this feature. for more information check here

in this dashboard we look at the total Metamask wallet holders and the average value of ETH held in these wallets. later on we find out What percentage of wallets are engaging in a higher order activity, like staking.

Methodology

in order to identify the metamask wallets, we look at the origin_from_address in ethereum.core.ez_dex_swaps and limit the results to records where the origin_function_signature equals "0x5f575529" and origin_to_address equals "0x881d40237659c251811cec9c364ef91dc08d300c". we also look at the flipside_prod_db.ethereum.erc20_balances to get the balance of these wallets.

let's start with the number of metamask wallets:

the chart above shows us number of unique metamask wallets on a daily basis. we can also see that the number of users added per day are lower at the beginning and goes up in the middle but has been going down again lately. this chart also shows us the cumulative number of wallets which means the last recorded number for cumulative amount (the line in the chart above) is the total number of metamask wallets. for better readability, look at the chart below:

the number above represents the number of metamask wallets. as you can see the number in this chart is the same as the last recorded amount for the cumulative amount in the previous chart.

next we look at the average amount of ETH held by these wallets:

according to the number above, average amount of ETH held by metamask wallets is 0.766 ETHs.

next let's look at the distribution of wallets based on the amount of ETH they hold:

by looking at the charts above we can see that:

• 74.2 percent of the wallets which is 687.101 thousand wallets has between zero and 0.1 ETH.

• the second place is wallets that have between 0.1 and 0.2 ETH and there are 74.598 thousand wallets which is 8.06 percent of all the metamask wallets.

• if we look at the charts and queries used to create them carefully, we see that there are 854622 wallets that have less than the average amount of ETH we found earlier which is more than 92.29 percent of the wallets.

• number of wallets that have more than the average is 71333 which is slightly over 7.7 percent.

• by looking at the statistics above, we can conclude that there must be some wallets with a very big amount of ETH since the average is higher than the amount in so many wallets.

so let's look at the whales and see how much ETH they have.

the chart above shows the address and balance of wallets that hold more than 1000 ETHs. there are 53 wallets that have more than 1000 ETHs. we can see that even among these wallets there are big gaps between the balances of these wallets.

next we look at higher order activity, like staking and try to see what percentage of the wallets have participated in these actions.

the chart above shows the number of stakes by metamask wallets and number of metamask wallets performing these stakes on a daily basis.

• number of stakes and wallets performing the stakes go up and down similarly which means that the average amount of stakes mostly doesn't change.

• there are some major spikes at juy of 2021 and also a period of time where the number of stakes goes up which begins on october 2021 and ends when the number of stakes starts to go down on april 2022.

now let's look at the total number of metamask wallets that have staked.

by looking at the numbers above we can see:

• there are 9.74 thousand wallets that have performed stakes.

• there are 31.8 thousand stakes performed by metamask wallets.

• this also tells us that each metamask wallet has on average performed approximately 3.26 stakes.