The DeFi boom in recent months has spurred the popularity of digital wallets, like Metamask, among cryptocurrency users
The browser portfolio, developed by ConsenSys, has just reached the milestone of one million monthly active users. This discovery translates into a growth of 400% in the last 12 months.
The target also arrives seven months after the portfolio announced that it reached a million users in total. The result was attributed to the increase in opportunities for yield farming from DeFi.
Most popular DeFi platforms, including Yearn, Aave, Maker and Uniswap, are inextricably linked to Ethereum. Crypto portfolios, such as Metamask, provide users of these platforms with options such as removing / adding liquidity and exchanging tokens on decentralized exchanges, hence their popularity.
Metamask, which has seen an exponential increase in new users, has largely contributed to the boom in the DeFi markets in terms of guarantees and liquidity. At the beginning of last month, Metamask launched a mobile version of its portfolio that brought convenience and contributed to the increase in users.
Despite the positive news, there is still much to improve. For example, Metamask could add more intuitiveness to help basic users, who are not experts, with blockchain transactions.
Other aspects for improvement, according to the users of the portfolio, include more resources and better stability. Some users also believe that Metamask should create a hardware token and wallet. Outside Metamask, DeFi markets remain stable.
According to DeFipulse, the combined total value blocked in the DeFi markets is hovering around $ 10.6 billion at the time of writing. Uniswap, according to the graphs, exceeds the total blocked value, with a market share of 22.16% (2.36 billion dollars). Maker is in second place with $ 1.83 billion. Curve and Aave are in the top four with $ 1.18 billion each.