- Metamask has seen a significant surge in active users, reaching 30 million monthly, marking a 55% increase in the last four months
- This surge nearly equals the project’s previous peak during the last bull market
- The rise is attributed to increased airdrops, fostering the emergence of “airdrop farmers” utilizing multiple wallets for maximum gains
Metamask has announced a significant surge in active users, nearly matching its peak during the last bull market, with 30 million people now using the wallet on a monthly basis. This represents a 55% jump in the last four months and equates to almost record-equaling numbers for the project. The huge growth is thought to be down to the increase in airdrops, which has led to the emergence of ‘airdrop farmers’ using multiple wallets to maximize their gains.
Bull Market Numbers
Metamask has been a hugely popular crypto wallet for years, so its jump from 19 million in September to over 30 million in January is not a surprise in itself. What is surprising, however, is the timing: despite hitting $52,000, Bitcoin is still far from enjoying the kind of fervor and madness it does during a bull run, and yet Metamask has still managed to clock up these impressive figures.
The number of monthly users is close to the record highs observed in January 2022, when Metamask recorded 31.7 million monthly active users.
Airdrop Farmers to Thank/blame?
A key reason for the sudden jump is the rise of ‘airdrop farming’, a process where users try to increase the number of tokens received from retroactive airdrops. Typically, users employ strategies like using multiple addresses or repeating tasks to boost rewards, often viewed as exploiting the system.
Given that Metamask is by far the most popular crypto wallet, airdrop hunters have been gathering up new addresses by the dozen, explaining a portion of the huge jump. Advanced detection mechanisms are being employed by crypto teams to maintain fairness and project integrity around airdrops, which critics say hurts the ecosystem and undermines the purpose of airdrops.
