Ethereum
Metamask surpasses 10 million monthly active users, climbing 1,800% in 12 months
On Tuesday, the noncustodial digital currency wallet Metamask announced that the platform has surpassed 10 million monthly active users (MAUs). Year-to-date, Metamask has seen 19x growth since July 2020 as MAUs climbed 1,800% in 12 months.
Metamask Hits Over 10 Million Monthly Active Users
There’s no doubt that Metamask has been a popular Ethereum blockchain wallet that is also compatible with technologies like Polygon, Optimism, and Arbitrum. The wallet was created by the blockchain software company Consensys in 2016 and a great number of decentralized finance (defi) applications support Metamask.
In a Tuesday announcement, Metamask says that in July 2020 the platform saw 545,080 MAUs and by April 2021, Metamask had 3 million MAUs. Today, Metamask has 10,354,279 MAUs and has grown 1,800% since July 2020.
Metamask outlined some of the factors that drove the software’s exponential growth in MAU. For one, Metamask is considered the “primary way” global defi users interact with 17,000 unique Web3 domains. Metamask can also be used to access non-fungible token assets (NFT), which are rapidly growing in popularity.
Two additional things helped Metamask grow, one of which was the token swap function. Alongside this, the Metamask mobile software gave the blockchain wallet an extra push in September 2020. Details of Metamask’s growth announcement:
The launch of the mobile version in September 2020 has played a crucial role in rapidly bringing new users from global markets such as the Philippines, Vietnam, China, India, Indonesia, Thailand, and Brazil.
Top 15 Geographical Metamask Regions, Celebration With Decentraland
Metamask says that as of August 2021, the software’s top 15 countries include: the Philippines, the United States, Vietnam, the United Kingdom, China, India, Russia, Brazil, Indonesia, Thailand, Turkey, Germany, France, Canada, and Spain. Metamask is thrilled about the growth and is partnering with Decentraland on September 2, 2021, to celebrate the milestone.
“Metamask created a new type of cryptocurrency wallet where users interact not just with currencies but also with decentralized applications. We are continually making these new types of applications safer and more accessible to a wider audience,” Dan Finlay (Metamask’s cofounder) said. He said that users are encouraged to explore new ways to establish trust online.
What do you think about Metamask’s MAU growth? Please comment below to let us know your thoughts on this topic.
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Ethereum
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Ethereum
Ethereum Price Analysis: This Support Is Crucial for Ethereum to Reach $4K
Ethereum is grappling with a decisive support range between the 100-day MA ($3.2K) and the 200-day MA ($3K), a critical region serving as the buyers’ last line of defense.
The outcome at this level is expected to shape Ethereum’s mid-term trajectory.
Technical Analysis
By Shayan
The Daily Chart
ETH recently encountered heightened volatility as it approached the significant $3.2K-$3K price range, reflecting an intense battle between buyers and sellers. The price action highlights sellers’ attempts to push the asset below these key moving averages, signaling a potential bearish breakdown.
Currently, Ethereum is finding temporary support within this range, with the price confined between the $3.2K level and the bullish flag’s upper boundary. A decisive breakout in either direction is likely to determine the next major trend for Ethereum.
The 4-Hour Chart
On the 4-hour chart, Ethereum consolidated near the 0.5 ($3.2K) and 0.618 ($3K) Fibonacci retracement levels before briefly breaking below this critical support zone. However, strong buying interest quickly drove the asset back above the $3.2K mark.
This region remains pivotal as it represents the final primary support zone for buyers. A sustained hold above the $3.2K level could reignite bullish momentum, targeting a recovery toward higher resistance lines.
Conversely, a breakdown below this range could trigger liquidations, potentially driving the price toward the $2.5K support zone. For now, Ethereum is consolidating near this critical region, with a battle between buyers and sellers dictating the market’s next move.
Onchain Analysis
By Shayan
The Binance liquidation heatmap provides insights into key levels where significant liquidation events are likely. Based on the clustering of liquidation levels for long and short positions, these levels often act as magnets, driving price action toward them as market participants aim to capture liquidity.
During the recent shake-off, Ethereum grabbed liquidity at the $3K mark, resulting in a sharp price recovery. A notable cluster of wrecked levels still exists just below the critical $3K support, representing long-position liquidations. This makes the $3K area highly attractive to bears and institutional sellers, increasing the probability of a bearish breakout toward these levels in the mid-term.
However, a significant liquidity pool also rests at the $4K threshold, marking a potential ultimate target for buyers. However, it is likely that the price may grab liquidity below $3K first, creating a shakeout phase before resuming a bullish trajectory toward $4K. While Ethereum’s current price action reflects consolidation, the $3K level remains pivotal. A bearish breakout to capture liquidity below $3K is plausible in the short-to-mid term.
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