Expert reviewed
Last Updated on November 30, 2024 Digital crypto wallets are essential for all financial transactions in the crypto space.
These wallets store private keys necessary for users to participate in blockchain transactions. Without a crypto wallet, users cannot interact with cryptocurrency and blockchain.
One of the most popular wallets is MetaMask, a free, open-source, hot wallet. It’s more than just a wallet—it acts as a platform that lets users buy, sell, and interact with decentralized apps (dApps) on the blockchain.
When it was first launched, MetaMask was a gateway to everything Ethereum, supporting ERC-20 tokens and enabling users to engage with NFTs, DeFi ecosystems, and other Ethereum-based services.
For years, MetaMask was exclusively tied to the Ethereum blockchain.
However, in 2024, it has expanded beyond Ethereum, allowing users to interact with multiple other chains, including Binance Smart Chain (BSC), Polygon, Avalanche, and more.
This evolution makes MetaMask even more versatile, catering to the growing demand for cross-chain compatibility as DeFi and blockchain ecosystems diversify.
MetaMask lets users buy, receive, send, and swap currencies and NFTs directly within the app.
It’s available as a mobile app for Android and iOS devices and as a browser extension for platforms like Google Chrome and Firefox.
MetaMask’s fox mascot follows your cursor as you move it, adding a playful touch to the user experience.
Over time, MetaMask has become a popular choice among Ethereum users, cementing its place as a leading crypto wallet. We’ve gathered data that reflects the app’s success and growing popularity.
Metamask Download Statistics
Between 2020 and 2024, India and the United States led the world in the number of MetaMask app downloads. However, in 2024, other countries began to catch up with significant download numbers.
Following India and the United States, countries like Nigeria, Russia, and Pakistan saw a surge in MetaMask downloads.
As of May 2024, the United States recorded 155,828 downloads, ranking first. Surprisingly, Nigeria came in second with 165,564 downloads. India followed closely, ranking third with 104,851 downloads.
| Country | Number of Downloads In May 2024 |
| Algeria | 5,456 |
| Argentina | 5,736 |
| Australia | 7,986 |
| Austria | 2,441 |
| Azerbaijan | 2,854 |
| Belarus | 8,111 |
| Belgium | 3,097 |
| Brazil | 26,826 |
| Canada | 12,856 |
| Chile | 1,682 |
| Colombia | 3,456 |
| Czechia | 3,360 |
| Denmark | 1,367 |
| Dominican Republic | 1,719 |
| Ecuador | 244 |
| Egypt | 3,004 |
| Finland | 911 |
| France | 15,962 |
| Germany | 27,374 |
| Greece | 2,537 |
| Hong Kong, SAR | 6,736 |
| Hungary | 2,293 |
| India | 104,851 |
| Indonesia | 47,531 |
| Ireland | 1,558 |
| Israel | 2,613 |
| Italy | 9,281 |
| Japan | 28,736 |
| Kazakhstan | 9,890 |
| Kuwait | 885 |
| Lebanon | 325 |
| Malaysia | 5,224 |
| Mexico | 3,063 |
| Netherlands | 9.224 |
| New Zealand | 1,719 |
| Nigeria | 165,564 |
| Norway | 1,694 |
| Pakistan | 76,338 |
| Peru | 1,946 |
| Philippines | 14,306 |
| Poland | 10,167 |
| Portugal | 4,676 |
| Romania | 2,594 |
| Russia | 87,684 |
| Saudi Arabia | 6,343 |
| Singapore | 4,701 |
| South Africa | 4,771 |
| South Korea | 30,768 |
| Spain | 8,006 |
| Sweden | 3,132 |
| Switzerland | 3,232 |
| Taiwan | 5,857 |
| Thailand | 15,088 |
| Tukey | 23,062 |
| Ukraine | 45,375 |
| United Arab Emirates | 6,466 |
| United Kingdom | 20,906 |
| United States | 155,828 |
| Vietnam | 29,822 |
MetaMask Userbase
Swaps is a feature within the MetaMask app. The number of people using the feature has seen explosive growth in its user base since 2020.
In October 2020, it had a modest 2,178 users. By the end of 2023, this number had surged to 7,257,122. As of July 2024, the platform’s user count reached 8,466,339.
MetaMask Monthly Active User Statistics
Metamask reached its highest monthly active user (MAU) count in January 2022, hitting 31.7 million. However, it saw another peak in January 2024, with 30 million active users.
This growth is awe-inspiring, considering just four months earlier, in September 2023, the MAU was around 19 million. Between September 2023 and January 2024, users surged by 55%.
MetaMask Daily Unique Active Wallet Count
On December 26, 2021, the number of daily unique MetaMask active wallets on the Ethereum blockchain peaked at around 13,970.
However, by October 13, 2024, the daily unique wallet count has significantly dropped to 5,390. The substantial decrease in daily active MetaMask wallets on Ethereum, from its 2021 peak to 2024, suggests a shift in user behavior.
Metamask Swap Volume
According to the latest data of September 2024, the total swap volume on MetaMask has reached $34.15 billion.
At the end of 2023, this figure stood at approximately $29.13 billion. Over the nine months from December 2023 to September 2024, MetaMask Swaps volume increased by 17.23%, highlighting a steady rise in user activity and engagement.
| Year | Swap Volume |
| 2020 | $171,724,527 |
| 2021 | $13,820,677,589 |
| 2022 | $23,440,859,591 |
| 2023 | $29,133,763,875 |
| 2024 | $34,151,892,450 |
MetaMask Swap Volume By Chain
As of September 2024, Ethereum holds the top spot for cumulative swap volume, reaching a massive $28.04 billion. BNB follows in second place with a swap volume of $4.46 billion.
Ethereum continues to dominate the MetaMask transaction space, with a swap volume over six times that of BNB.
| Chain | Swap Volume |
| Ethereum | $28,038,337,418 |
| BNB | $4,462,636,782 |
| Polygon | $887,913,066 |
| Arbitrum | $371,903,519 |
| Avalanche C | $289,521,090 |
| Optimism | $74,180,234 |
| ZK Sync | $4,117,972 |
MetaMask Revenue Statistics
While MetaMask offers a free storage wallet, it charges a fee for trades and transactions made through the app. These small fees have added up significantly over time.
By September 2024, MetaMask had generated a total revenue of $298,965,638 from these transaction fees.
| Year | Revenue |
| 2020 | $1,558,459 |
| 2021 | $120,995,851 |
| 2022 | $204,742,747 |
| 2023 | $254,679,552 |
| Sept 2024 | $298,965,638 |
MetaMask User Statistics By Chain
As of 2024, the majority of MetaMask users, approximately 4.6 million, primarily interact with the BNB Chain. Ethereum ranks second with around 2.4 million users, followed by Polygon with 2.08 million users. Arbitrum comes in fourth, with 524,909 users.
| Chain | % Of Unique Users By Chain |
| BNB | 45.2% |
| Ethereum | 24% |
| Polygon | 20.5% |
| Arbitrum | 5.1% |
| Avalanche C | 2.9% |
| Optimism | 1.8% |
| ZK Sync | 0.4% |
The above data set shows that most MetaMask users interact with the BNB chain. Ethereum is the second most used chain by the users.
Country Wise Desktop Traffic To MetaMask
MetaMask is a popular crypto wallet headquartered in Brooklyn, New York. As a result, most of its website visitors come from the United States. Roughly 26.5% of all MetaMask site traffic originates from the U.S.
Russia holds the second-largest share, with about 6.57% of visitors. India follows closely in third place, accounting for 4.76% of the traffic.
While MetaMask’s U.S. base explains its large American user base, the presence of Russia and India in the top three suggests a growing global interest in decentralized wallets, particularly in regions with emerging crypto markets.
MetaMask Website Traffic Based On Devices
On MetaMask’s official website, desktop users dominate the traffic, accounting for 70.28% of visits, while mobile devices contribute 29.72%.
As of September 2024, the site recorded approximately 5,491,318 total visits. Desktop users comprised 3,862,038 of these, while mobile devices accounted for 1,633,280 visits.
MetaMask’s traffic is heavily skewed toward desktop users, highlighting the preference for desktop platforms when managing digital assets or interacting with decentralized applications.
Revenue Generated By MetaMask From Different Chains
As of September 2024, MetaMask generated the most revenue from the Ethereum chain, totaling approximately $242.7 million.
Even though most MetaMask users interact with the BNB chain, it only comes in second for revenue generation, contributing $39.2 million.
| Chain | Revenue Generated |
| Ethereum | $242,708,877 |
| BNB | $39,195,240 |
| Polygon | $7,657,755 |
| Arbitrum | $3,184,622 |
| Avalanche C | $2,439,259 |
| Optimism | $644,397 |
| ZK Sync | $36,928 |
Balance Of MetaMAsk Swap dAPP Smart Contract
The balance of MetaMask’s Swap smart contract shows the total assets—mainly cryptocurrencies—held by the contract that runs MetaMask’s Swap feature. This balance reflects users’ liquidity when swapping tokens directly within the wallet.
As of October 24, 2024, the Swap contract holds $652.80K. This year’s highest balance was on September 27, which peaked at $708.48K.
The MetaMask Swap smart contract balance fluctuation reflects the varying liquidity demand for swaps throughout the year.
Transactions Made Using MetaMask
In 2024, MetaMask transaction activity peaked at 29,500 transactions on August 5th. However, by October 13th, daily transaction figures had dropped to 9,120. This decline suggests a decrease in user activity or a possible shift in market dynamics.
MetaMask Blacklist Usage Statistics
MetaMask’s blacklist feature acts as a safety net, flagging malicious addresses, tokens, and domains to protect users from harmful interactions in the decentralized world.
Recent data shows that 193,959 websites currently use MetaMask’s blacklist. Of these, 161,675 are active, while 13,989 redirect users to sites using the blacklist. Interestingly, around 32,284 websites have used the blacklist in the past.
In India alone, about 659 websites either reference or rely on this blacklist technology to keep their users safe.
Hacker Attacks on MetaMask
In 2022, a MetaMask developer revealed that hackers had stolen over 5,000 ether, valued at $10 million at the time, from early adopters.
FAQs
Q1.Is MetaMask free to use?
Anyone can download and use MetaMask for free. However, when performing transactions, the app charges gas fees. These fees are necessary to process and execute transactions on the blockchain. The amount of gas fees varies depending on network traffic and the complexity of the transaction.
Q2. What is a seed phrase, and why is it important?
A seed phrase is a 12-word backup phrase that gives you access to your wallet and funds. It’s critical to store it safely because anyone with your seed phrase can control your wallet.
Q3. How many dApps are available through MetaMask?
MetaMask can connect to over 17,000 decentralized applications (dApps) across various blockchains, including DeFi platforms, NFT marketplaces, and blockchain games.
